Cipher Mining (CIFR) Reiterated at Market Outperform by Citizens: Long-term Outlook Good

Citizens analyst Greg Miller reiterated a Market Outperform rating and $30.00 price target on Cipher Mining (NASDAQ: CIFR).

The analyst commented, "Cipher reported results that further validate the company’s positioning as a credible, scalable platform in the digital infrastructure universe as it continues to execute its transition from bitcoin mining to HPC. The company exited its bitcoin mining JV and formally rebranded, underscoring the strategic shift toward long-duration, contracted HPC cash flows. While near-term financials are impacted by the mining wind-down and non-cash accounting items, we believe the quarter reinforces the long-term outlook of the company. With 600 MW of HPC leases signed, construction fully financed and a substantial power pipeline, we believe Cipher is increasingly well positioned to generate incremental shareholder value through additional development and leasing activity over the next several years. We reiterate our Market Outperform rating and $30 price target, which implies ~16.5x 2027 estimated EV/EBITDA."

For an analyst ratings summary and ratings history on Cipher Mining click here. For more ratings news on Cipher Mining click here.

Shares of Cipher Mining closed at $17.12 yesterday.

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