Mawson Infrastructure Group Inc. (MIGI) PT Raised to $17 at H.C. Wainwright

H.C. Wainwright analyst Kevin Dede raised the price target on Mawson Infrastructure Group Inc. (NASDAQ: MIGI) to $17.00 (from $15.00) while maintaining a Buy rating.

The analyst commented, "Mawson Infrastructure Group reported its September (3Q21) quarter November 15 and hosted a conference call the following day. Revenues of $10.9M fell below our expectation, primarily on account of our overly aggressive hash rate assumption—Mawson's hash reached 800 PH/s in the current November month, we obviously had the company tracking higher. Reiterating our Buy rating and offering a gentle nudge to our price target. Our new $17 target remains highly conservative in light of valuations assessed on competitive miners in the range of 25-30x next year's EPS estimates."

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