Cipher Mining price target raised to $14 from $9 at Rosenblatt

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.”