Canaan price target lowered to $2 from $2.50 at B. Riley

Group 1 - B. Riley has lowered the price target on Canaan (CAN) to $2 from $2.50 while maintaining a Buy rating on the shares [1] - The revised price target is influenced by the company's Q4 results and the acquisition of a 49% stake in three West Texas sites from Cipher Mining (CIFR) [1]