Benchmark Boosts Canaan (CAN) PT to $4, Cites a Visible Slate of Shipments

Canaan Inc. (NASDAQ:CAN) is one of the hot tech stocks to buy according to Wall Street analysts. On October 23, Benchmark raised the firm’s price target on Canaan to $4 from $2 and kept a Buy rating on the shares. The firm stated that with the resolution of the NASDAQ listing overhang, the company is now well-positioned to deliver further share price appreciation.

This positive outlook is supported by a visible slate of shipments from the 50,000-plus Avalon A15 Pro order expected in Q4 2025, in addition to an expanding self-mining base.

Benchmark Boosts Canaan (CAN) PT to $4, Cites a Visible Slate of Shipments

A day prior, on October 22, B. Riley raised the firm’s price target on Canaan to $3 from $2 with a Buy rating on the shares as a part of an update on estimates and valuations for companies focused on HPC, resulting in an average increase in price targets of 78% and a rise in 2026 forecasts of 5%, which was supported by robust demand for AI-related power and data centers.

Canaan Inc. (NASDAQ:CAN) engages in the research and development, design, and sale of integrated circuits/IC, and lease of final mining equipment by integrating IC products for bitcoin mining and related components in the People’s Republic of China.

While we acknowledge the potential of CAN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CAN and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.