Cipher Mining price target raised to $6 from $5.50 at Canaccord

Canaccord analyst Joseph Vafi raised the firm’s price target on Cipher Mining to $6 from $5.50 and keeps a Buy rating on the shares. The firm said the company’s operational and financial performance continues to be a standout in the BTC mining sector. This view is underscored by solid Q1 results, an outlook that contemplates strong exahash growth, a solid, unencumbered balance sheet, and by a business model that was more ready than most for the recent halving event.