H.C. Wainwright analyst Mike Colonnese raised the firm’s price target on CleanSpark to $14 from $12 and keeps a Buy rating on the shares post the fiscal Q3 report. The shares remain “significantly undervalued despite continued strong execution,” the analyst tells investors in a research note. The firm expects CleanSpark’s “valuation gap to close” as management continues to successfully execute on the company’s near-term expansion strategy. It reiterates the stock as a top pick for 2023.
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