Cipher Mining Inc. (CIFR) saw its stock soar 8.83% in the pre-market trading session on Friday, spurred by significantly upgraded forecasts from analysts for the company's 2025 financial performance.
Analysts now expect CIFR to generate revenue of $345 million in 2025, representing a substantial 126% increase compared to the previous 12 months. Additionally, they have slashed their projected losses for the year, forecasting a loss of $0.032 per share, down 79% from earlier estimates of $0.13 per share.
The improved outlook suggests that analysts have become more bullish on CIFR's business fundamentals and growth prospects. However, the consensus price target for the stock remained unchanged at $8.53, indicating potential lingering concerns about the company's ability to achieve sustained profitability despite the upgraded forecasts.
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