Canaccord raises Cipher's target price to $16 and reiterates "Buy" rating

Jinse Finance reported that a broker's exchange stated that Cipher Mining has recently strengthened its financial position through a $1.1 billion zero-coupon convertible bond financing, and is promoting the transformation of its Barber Lake facility into AI infrastructure through cooperation with Fluidstack. Driven by this, the exchange reiterated its "buy" rating on Cipher stock and raised the target price from $12 to $16.