Morgan Stanley raised its price target for Cipher Mining (CIFR) to $54.00 from $43.50. The firm reaffirmed its Overweight rating on the stock. This new target implies a potential upside of over 200% from the previous closing price.
The upgrade follows Cipher Mining’s new 15-year lease agreement with an investment-grade hyperscaler. This deal supports the company’s strategic transition from bitcoin mining to artificial intelligence and high-performance computing infrastructure.