Key Points:
- Canaan (CAN, Financial) partners with Cipher Mining for bitcoin miner delivery to the Black Pearl facility.
- Analysts predict significant upside potential, with an average target price of $2.68.
- GuruFocus estimates suggest a GF Value of $2.14, indicating substantial growth from the current price.
Canaan (CAN) is set to deliver 6,840 Avalon A15Pro bitcoin miners to Cipher Mining's Black Pearl facility in Q3. These bitcoin mining units boast a hash rate of 221 TH/s and a power efficiency of 16.6 J/TH. This agreement underscores Canaan's commitment to bolstering the operations of U.S. bitcoin miners.
Wall Street Analysts Forecast
According to one-year price targets from 7 analysts, Canaan Inc (CAN, Financial) has an average target price of $2.68, with projections reaching as high as $5.00 and as low as $1.50. This average target indicates a remarkable upside potential of 180.71% compared to the current trading price of $0.95. For more in-depth information, visit the Canaan Inc (CAN) Forecast page.
Consensus among 6 brokerage firms places Canaan Inc's (CAN, Financial) average brokerage recommendation at 2.0, suggesting an "Outperform" status. On the rating scale, 1 denotes a Strong Buy, while 5 indicates a Sell.
GuruFocus estimates that the GF Value for Canaan Inc (CAN, Financial) in one year stands at $2.14, pointing to an upside of 124.27% from the current price of $0.9542. The GF Value is GuruFocus' calculated estimate of the stock's fair trading value, derived from its historical trading multiples, past business growth, and future performance projections. Additional comprehensive data is accessible on the Canaan Inc (CAN) Summary page.
