Is Cipher Digital Inc. (CIFR) a Strong Buy as Morgan Stanley Raises Price Target?

We recently compiled a list of the 12 Best Strong Buy Tech Stocks to Invest In Now. Cipher Digital Inc. (NASDAQ:CIFR) is among the best Strong Buy stocks on this list.

TheFly reported on May 19 that Morgan Stanley increased its price target on CIFR to $42.50 from $40.50 while maintaining an Overweight rating on the stock. The firm said the adjustment reflects an updated assessment of the company’s outlook following its first quarter results.

Cipher Digital Inc. (NASDAQ:CIFR) reported its first-quarter 2026 results on May 5, along with an operational and strategic update covering its data center expansion activities. The company disclosed progress on multiple development projects, including advancement at its Barber Lake facility, where construction has reached structural completion and mechanical and electrical installations are underway while remaining on schedule. At the Black Pearl site, retrofit work for the initial phase is continuing, with planning for the next phase already initiated.

Is Cipher Digital Inc. (CIFR) a Strong Buy as Morgan Stanley Raises Price Target?

CIFR also secured a revolving credit facility providing up to $200 million in committed financing capacity from a syndicate of global financial institutions, strengthening its liquidity position. During the quarter, the company signed a third data center campus lease with an investment-grade hyperscale customer, supporting its long-term growth strategy. Financial results showed revenue of $35 million and negative adjusted EBITDA of $48 million, reflecting continued investment in scaling its infrastructure platform.

Cipher Digital Inc. (NASDAQ:CIFR) is a data center company transitioning from Bitcoin mining to building high-performance computing infrastructure for AI and hyperscale clients.

While we acknowledge the risk and potential of CIFR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CIFR and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years 

Disclosure: None. Follow Insider Monkey on Google News.

1281292 - 11759070 - 1