Cipher Mining price target raised to $7 from $6 at Canaccord

Canaccord raised the firm’s price target on Cipher Mining to $7 from $6 and keeps a Buy rating on the shares. The firm continues to believe that CIFR‘s bitcoin mining business remains a standout across the key vectors of exahash growth, operating performance and low electricity input prices. This view is underscored by solid Q2 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.