B. Riley lowered the firm’s price target on Canaan (CAN) to $2.50 from $3 and keeps a Buy rating on the shares. Canaan delivered Q3 adjusted EBITDA ahead of expectations and secured its largest order in three years, over 50,000 A15 Pro miners from a U.S. customer, with deliveries running through 2025, the analyst tells investors in a research note.
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