Cantor Raises Crypto Stock Targets; Sees Bear Market Bottom

**Implied Volatility / Movement:** Bitcoin fell 2% and SPY edged 0.5% lower.

Cantor Fitzgerald raised price targets on Sharplink Gaming (SBET), Forward Industries (FWDI), and Bitmine Immersion Technologies (BMNR), maintaining 'Outperform' ratings and suggesting the crypto bear market could bottom by October 2026. Morgan Stanley initiated coverage on Coinbase (COIN) with an 'Equal Weight' rating, noting its strategic positioning but also the cyclical nature of its earnings. Block (XYZ) also saw an upgrade to 'Buy' from StoneX.

### Money Play - Investors watching crypto-linked equities may monitor Cantor's increased price targets for Sharplink Gaming (SBET) to $17, Forward Industries (FWDI) to $16, and Bitmine Immersion Technologies (BMNR) to $63.60. - Block (XYZ) saw an upgrade to 'Buy' with a $105 price target. - The SPDR S&P 500 ETF Trust (SPY) edged 0.5% lower amid broader market pressure.

### Executive Thesis Bullish calls from Cantor Fitzgerald on crypto-related companies signal potential upside if the market downturn finds a floor, while Morgan Stanley expresses a more cautious, balanced view on Coinbase due to cyclical earnings. Investors are navigating mixed signals ahead of the Federal Open Market Committee's meeting.

### The Print U.S. producer prices rose 0.4% in August, matching expectations. On a year-over-year basis, producer prices increased 5.4%, an acceleration from the 4.7% rise in July. Separately, CPI-U increased 0.1% month-over-month and 3.4% year-over-year.

### Market Reaction Bitcoin's price fell more than 2% over the past 24 hours. The SPDR S&P 500 ETF Trust (SPY) edged 0.5% lower.

### What It Means for Policy & Positioning The latest inflation data, including producer and consumer prices, provides context for the Federal Reserve's upcoming policy decisions. The mixed inflation readings may influence the Fed's stance on interest rates, potentially impacting future market positioning.

### Next Calendar Watch The Federal Open Market Committee (FOMC) is scheduled to meet next week.

### Story Arc / How We Got Here

This follows our earlier coverage ([JNJ Stock Valuation: Growth Hopes Outpace Guidance](/explore/jnj-stock-valuation-growth-hopes-outpace-guidance)) on 2026-09-03. Johnson & Johnson's stock has surged 56.5% over the past year, nearing its 52-week high. However, the current valuation implies an 11.9% annual revenue growth rate, significantly exceeding the company's 2026 guidance of 7.0% to 7.6%, raising concerns about growth expectations versus reported figures. · - Investors might scrutinize whether the market is pricing in future growth that outstrips Johnson & Johnson's stated guidance, potentially leading to a valuation reset if growth targets are not met.