The post JPMorgan Boosts Bitcoin Mining Stocks Outlook Amid Rising Bitcoin Price and Hash Rate appeared on BitcoinEthereumNews.com.

COINOTAG News reported on December 10 that following the third-quarter earnings announcement by JPMorgan (JPM) and a notable rise in Bitcoin prices and network hash rate, the bank has revised its assessments of select Bitcoin mining stocks. In a recent report, JPMorgan expressed increased optimism regarding the outlook for specific companies in this sector, citing their robust third-quarter performances and the overall growth in the Bitcoin network’s hash rate. Specifically, JPMorgan has upgraded its ratings for Cipher Mining (CIFR) and CleanSpark (CLSK) from “Neutral” to “Overweight.” Each company now features a revised target price, with Cipher losing a target of $8, and CleanSpark seeing its target price elevated from $10.5 to $17. Additionally, MARA Holdings (MARA) has been upgraded as well, moving from “Underweight” to “Neutral,” with its target price raised from $12 to $23. On the contrary, JPMorgan downgraded IREN (IREN) from “Overweight” to “Neutral,” although it has improved its target price from $9.5 to $15. Meanwhile, Riot Platforms (RIOT) retains an “Overweight” rating, coupled with an increased target price from $9.5 to $16. Source: https://en.coinotag.com/breakingnews/jpmorgan-boosts-bitcoin-mining-stocks-outlook-amid-rising-bitcoin-price-and-hash-rate/

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Filed under: News - @ December 10, 2024 3:28 pm