Rosenblatt Maintains Buy Rating on Canaan (CAN) Despite Lowered Price Target
On May 20, 2026, Rosenblatt lowered its price target for Canaan Inc. (NASDAQ: CAN) to $1.30 from $2.25 but maintained a 'Buy' rating following the company's Q1 report and strategic moves toward vertical integration in bitcoin mining. The firm highlighted Canaan’s perseverance amid declining Bitcoin prices, rising energy costs, and its recent involvement in Nordic district heating projects using hydro-cooled units.
Tickers: $CAN
Topics: Bitcoin Mining Canaan Rosenblatt Securities Stock Rating