Northland analyst Mike Grondahl raised the firm’s price target on Canaan (CAN) to $1.75 from $1.50 and keeps a Market Perform rating on the shares after the company announced that it has secured a U.S. order for about 50,000 A15 Pro miners that are scheduled for delivery in Q4. The firm views this as “a large, profitable deal” that will set up Canaan for a strong 2026, though it does not expect any additional orders of this size to be delivered in Q4 given that Canaan has been running a lean inventory strategy, the analyst tells investors.
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