Canaan's Solid Operations Recognized, Wall Street Investment Firm Rosenblatt Gives "Buy" Rating
SINGAPORE, Sept. 12, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) has been recognized for its solid operations by Rosenblatt, a Wall Street investment firm that defines Canaan Inc. as "promising" in light of the upcoming BTC bull market, and initiating with a "buy" rating and a $3 price target for its stock over the next 12 months.
- SINGAPORE, Sept. 12, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) has been recognized for its solid operations by Rosenblatt, a Wall Street investment firm that defines Canaan Inc. as "promising" in light of the upcoming BTC bull market, and initiating with a "buy" rating and a $3 price target for its stock over the next 12 months.
- Rosenblatt expects its valuation to rise and come closer to the valuations of co-location service data center operators.
- This not only positions the company favorably among environmentally conscious customers, but also enhances its competitive edge in the market.
- Rosenblatt is a research and investment banking boutique and agency focused on institutional brokers, providing specialized services in financial services, market structure and research.