CleanSpark (CLSK): Keefe Bruyette Maintains Positive Outlook on Sealy Project Despite ERCOT Batch Study Uncertainty

CleanSpark Inc. (NASDAQ:CLSK) is one of the best single digit stocks to buy according to analysts. On February 9, Keefe Bruyette lowered its price target for CleanSpark from $18 to $14 and kept an Outperform rating. The firm noted that while ERCOT’s proposed batch study introduces uncertainty regarding the company’s Texas pipeline, the firm remains constructive on the Sealy project.

On the same day, Clear Street analyst Brian Dobson lowered the firm’s price target on CleanSpark to $22 from $27 while keeping a Buy rating. The firm remains positive on the company’s outlook, pointing to strong demand trends in HPC as a key growth driver. However, this optimism is tempered by the recent decline in bitcoin prices, which influenced the reduction in the price target.

On February 6, Needham analyst John Todaro lowered the firm’s price target on CleanSpark Inc. (NASDAQ:CLSK) to $19 from $25 and maintained a Buy rating. The company reported a modest miss on revenue and Adjusted EBITDA, which was primarily attributed to lower mining output. The firm is further reducing its estimates to account for the material pullback in bitcoin prices.

CleanSpark (CLSK): Keefe Bruyette Maintains Positive Outlook on Sealy Project Despite ERCOT Batch Study Uncertainty

CleanSpark Inc. (NASDAQ:CLSK) operates as a bitcoin mining company in the Americas. The company owns, leases, and operates data centers and power assets. Its infrastructure supports Bitcoin, a digital commodity.

While we acknowledge the potential of CLSK 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 CLSK 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.