Benchmark Boosts Canaan (CAN) PT to $4, Cites a Visible Slate of Shipments

Canaan Inc. (NASDAQ:CAN) is one of the hot tech stocks to buy according to Wall Street analysts. On October 23, Benchmark raised the firm’s price target on Canaan to $4 from $2 and kept a Buy rating on the shares. The firm stated that with the resolution of the NASDAQ listing overhang, the company is now well-positioned to deliver further share price appreciation.

This positive outlook is supported by a visible slate of shipments from the 50,000-plus Avalon A15 Pro order expected in Q4 2025, in addition to an expanding self-mining base.

A day prior, on October 22, B. Riley raised the firm’s price target on Canaan to $3 from $2 with a Buy rating on the shares as a part of an update on estimates and valuations for companies focused on HPC, resulting in an average increase in price targets of 78% and a rise in 2026 forecasts of 5%, which was supported by robust demand for AI-related power and data centers.

Canaan Inc. (NASDAQ:CAN) engages in the research and development, design, and sale of integrated circuits/IC, and lease of final mining equipment by integrating IC products for bitcoin mining and related components in the People’s Republic of China.

While we acknowledge the potential of CAN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.