Wells Fargo & Company upgraded Cipher Mining to a strong-buy rating on September 18, 2026. The upgrade follows quarterly results that missed analyst expectations.
Freedom Capital initiated coverage on the same day with a hold rating. The firm set a price target of $22.00 for the company. Analysts highlighted the company's transition from cryptocurrency mining to AI workloads.
Baird Financial Group Inc. invested $1.97 million in Cipher Mining during the second quarter. The firm acquired 80,348 shares during this period.