Canaan price target raised to $4 from $2 at Benchmark

Benchmark raised the firm’s price target on Canaan (CAN) to $4 from $2 and keeps a Buy rating on the shares. With the Nasdaq listing overhang resolved, a visible slate of shipments from the 50,000-plus Avalon A15 Pro order in Q4, and an expanding self-mining base, the firm calls the stock “well positioned to deliver further share price appreciation.”