Cipher Mining Price Target Raised to $32 by Keefe Bruyette

Keefe, Bruyette & Woods raised its price target on Cipher Mining (CIFR) to $32 from $27. The firm maintained an 'Outperform' rating on the shares.

This revision follows a broader sector review for Bitcoin miners. The review precedes their second-quarter earnings reports. The analyst noted strong demand for high-performance computing (HPC) infrastructure. Keefe Bruyette prefers miners serving hyperscalers and investment-grade enterprise customers.

The firm also increased price targets for other sector companies, including CleanSpark (CLSK) and Hut 8 (HUT). This signals a generally constructive outlook. Following the news, Cipher Mining's stock gained over 5% in pre-market trading.