Stock Track | Cipher Mining Soars 8% Intraday on Analyst Upgrades and AI Transformation Momentum

Stock Track06-02

Cipher Mining Inc. (CIFR) stock surged 8.00% during intraday trading on Tuesday, continuing a strong rebound trend for the company.

The sharp rise follows positive analyst actions and growing optimism around the company's strategic shift. Morgan Stanley recently raised its price target on Cipher Mining from $40.50 to $42.50, maintaining an Outperform rating. The firm highlighted that CIFR is successfully transitioning from a bitcoin miner to an AI infrastructure provider, with future stock value expected to be driven by long-term, stable data center leasing cash flows. Jefferies also assigned a Buy rating with a $32 target price.

The company has secured approximately $11.4 billion in long-term high-performance computing (HPC) data center lease contracts with investment-grade cloud providers. These contracts cover 700 megawatts of capacity with terms of 10 to 15 years, providing a substantial foundation for its new business direction. This strategic pivot and the significant contract backlog are key factors fueling investor confidence and the stock's upward movement.

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