Bitfarms price target raised to $4 from $3 at Cantor Fitzgerald

Cantor Fitzgerald analyst Josh Siegler raised the firm’s price target on Bitfarms to $4 from $3 and keeps an Overweight rating on the shares. The Q4 results were largely in-line with Cantor’s model, the analyst tells investors in a research note. The company has demonstrated substantial progress in establishing a clear line-of-sight for near-term hash rate growth, the firm argues.