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Cipher (CIFR) Gets 13.8% Boost From Morgan Stanley Coverage
Yahoo Finance· 2026-02-10 12:42
Core Viewpoint - Cipher Mining Inc. (NASDAQ:CIFR) has shown strong performance, with a 13.78% increase in stock price following positive coverage from Morgan Stanley, which has set a price target of $38, indicating a 127% upside potential from its recent closing price [1][2]. Group 1: Company Performance - Cipher Mining's stock rose to $16.76 per share on Monday, reflecting investor optimism driven by Morgan Stanley's bullish outlook [1]. - The company is expected to benefit from the increasing demand for artificial intelligence power, as it can leverage its bitcoin mining and data center capabilities [2][3]. Group 2: Financial Activities - Cipher Mining plans to raise $2 billion through the issuance of senior secured notes with a yield rate of 6.125%, maturing in 2031 [3][4]. - The proceeds from the notes will be allocated to finance the Black Pearl Facility, reimburse prior equity contributions, fund debt service reserves, and cover offering-related fees and expenses [4]. Group 3: Upcoming Events - Cipher Mining is scheduled to announce its fourth quarter and full-year 2025 earnings results on February 24, with a conference call planned to discuss the outcomes [3].