Cipher Mining price target raised to $25 from $14 at Rosenblatt

Rosenblatt raised the firm’s price target on Cipher Mining (CIFR) to $25 from $14 and keeps a Buy rating on the shares. The firm sees further upside in the crypto mining stocks, saying the companies’ power assets have become “incredibly valuable in this AI-led market.” The stocks have additional upside as companies execute on their respective power pipelines, the analyst tells investors in a research note. Rosenblatt believes the growing optimism about high performance compete also reduces exposure to bitcoin mining at a time when profitability has been squeezed by rising network competition.