Cipher Mining Inc. (NASDAQ:CIFR) shares are compounding gains on Wednesday, driven by Wall Street's growing enthusiasm for the company's high-performance computing (HPC) and artificial intelligence infrastructure strategy.
Morgan Stanley Leads Bullish Price Forecast Revisions
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Morgan Stanley analyst Stephen Byrd fueled Wednesday's momentum by maintaining an overweight rating on Cipher Mining and raising the price forecast from $40.5 to $42.5.
This follows a wave of positive analyst actions. On Friday, Needham analyst John Todaro maintained a buy rating and lifted his target from $22 to $25.
