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Benzinga

Business

Anusuya Lahiri

Here's Why Canaccord Is Bullish On This Cryptocurrency Mining Company

Hive Joseph Vafi Canaccord Genuity Nasdaq

Canaccord Genuity analyst Joseph Vafi initiated coverage of HIVE Blockchain Technologies Ltd (NASDAQ:HIVE) with a Buy rating and a $2.80 price target, suggesting an upside of 27%.
Digital assets, especially Bitcoin and Ethereum, successfully exited another test of their resiliency in the face of recent market volatility.
Vafi expects miners to benefit if bitcoin prices retrace higher.
In February, HIVE reported third-quarter results, with revenue from digital currency mining of $68.2 million, increasing 397% Y/Y.
Price Action: HIVE shares traded higher by 1.38% at $2.20 on the last check Friday.

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