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.
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. 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.
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This article is originally published at Insider Monkey.
