Jones Trading Slaps Buy Rating on Cipher Mining with $35 Price Target

Cipher Mining's stock has garnered attention from various analysts, with Jones Trading being the latest to initiate coverage. The firm assigned a buy rating and set a price target of $35.00 for the company.

This implies nearly 97% upside from the current stock price of $17.73, although the stock has already delivered a 54.6% return over the past year.

The analysts cited the company's shift from Bitcoin mining to artificial intelligence and high-performance computing infrastructure as a key factor in their rating.