MARA Holdings stock rose 8.3% in morning trading Friday, following a price target increase from Morgan Stanley and continued analyst attention on the company's shift toward artificial intelligence and high-performance computing infrastructure.

Morgan Stanley raised its price target on the stock to $11 from $6 while keeping its Underweight rating. The increase marks a recognition of improved upside potential in the shares.

The Morgan Stanley adjustment follows recent analyst activity that began earlier this month. H.C. Wainwright started coverage with a Buy rating and a $20 price target, citing approximately 68% upside potential tied to MARA's transition toward AI data center infrastructure.

The company's strategic moves include a pending acquisition of Long Ridge Energy and a joint venture with Starwood Capital to convert mining sites into high-performance computing facilities.

A Form 4 filing showed recent insider ownership changes at the company.