Bitcoin Mining Rig Maker Canaan Could Have 5X Upside, Says Wall Street Analyst

Singapore-based developer of bitcoin mining ASIC chips and rigs Canaan (CAN) has had a rough run, but could be a five-bagger, suggests Benchmark analyst Mark Palmer.Palmer on Tuesday initiated coverage of the ADRs with a buy rating and a $3 price target. The shares closed yesterday at $0.62, lower by 72% year-to-date source: https://www.coindesk.com/markets/2025/05/06/bitcoin-mining-rig-maker-canaan-could-have-5x-upside-says-wall-street-analyst