Rosenblatt raised the firm’s price target on Cipher Mining (CIFR) to $14 from $9 and keeps a Buy rating on the shares. The firm views the company’s first high performance compute contract as a “transformation transaction.” The agreement with Fluidstack and Google is a “hugely positive transaction,” cementing Cipher’s status as a key HPC hosting provider, the analyst tells investors in a research note. Rosenblatt believes Cipher “is just getting started.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CIFR:
- Cipher Stock (CIFR) Swings Sharply after Google Signs 10-Year AI Hosting Deal
- Crypto Currents: Strive, Semler Scientific announce bitcoin treasury merger
- Mixed options sentiment in Cipher Mining with shares down 3.34%
- Cipher Mining Announces $1.1 Billion Notes Offering
- Cipher Mining’s Strategic Partnership and Financial Strategy Drive Buy Rating and Increased Price Target