Bitfarms upgraded to Speculative Buy from Hold at Stifel

Stifel upgraded Bitfarms (BITF) to Speculative Buy from Hold with a price target of $3.50, up from $2.30, after having updated estimates and adjusted target prices in the group with Bitcoin having seen “an explosive move” to close in on a “historic” $100,000 spot price following the election of pro-crypto candidate Donald Trump. Following the recent run, the firm anticipates top-line and margin expansion across most of its Bitcoin-linked coverage, the analyst tells investors.