Canaan (CAN, Financial), a renowned player in the tech industry, has caught the attention of Benchmark analyst Mark Palmer. On May 6, 2025, Palmer initiated coverage on the stock with a "Buy" rating.
According to the latest report, the analyst has set a price target of 3.00 USD for Canaan (CAN, Financial). This initiation marks the beginning of Benchmark's formal coverage on the stock, providing investors with fresh insights into the company's potential market performance.
As Canaan (CAN, Financial) continues to develop its business strategies, this new rating from Benchmark adds another layer of confidence for potential investors looking at the stock's growth opportunities. Canaan (CAN)'s inclusion in Benchmark's coverage list underscores the company's market relevance and potential for future growth.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 5 analysts, the average target price for Canaan Inc (CAN, Financial) is $3.85 with a high estimate of $8.00 and a low estimate of $2.50. The average target implies an upside of 543.49% from the current price of $0.60. More detailed estimate data can be found on the Canaan Inc (CAN) Forecast page.
Based on the consensus recommendation from 5 brokerage firms, Canaan Inc's (CAN, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Canaan Inc (CAN, Financial) in one year is $0.67, suggesting a upside of 11.98% from the current price of $0.5983. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Canaan Inc (CAN) Summary page.
