PANews reported on March 20 that according to The Block, Bernstein analysts lowered the target stock prices of bitcoin miners for 2025, as these miners have clearly underperformed bitcoin (BTC) this year. The affected companies include IREN, CleanSpark, and Riot Platforms. The analysts pointed out that the stock prices of bitcoin miners have fallen by 20-40%, while bitcoin has only fallen by 10%. Among them, IREN's target stock price was adjusted from $26 to $20, CleanSpark's target from $30 to $20, and Riot's target from $22 to $19. At the same time, Bernstein maintained the target stock prices of MARA and Core Scientific at $23 and $17 respectively.
In addition, Bernstein raised the target stock price of Coinbase to $310, up 69% from the current price. Although Coinbase's performance this year has also failed to surpass bitcoin, the analysts believe that Coinbase's growth momentum is due to its strong position in the US market and the growth of stablecoin revenue, especially the regulatory changes driven by the Trump administration, which may bring it more market share. At the same time, the analysts set a target stock price of $105 for Robinhood.
