Small Cap Snipa(@SmallCapSnipa):Needham reiterated $CIFR buy rating and $25 price target on ERCOT Batch Zero conditional classifications: They believe a 16.5x their 2028 EV/Adj. EBITDA estimate is appropriate given Cipher’s long-term contracted cash flows, vertically integrated development capabilities and embedded optionality across its site portfolio. The firm believes 1GW of conditionally approved Base Load capacity still represents a significant pipeline of capacity, despite the headline "miss" on expectations.

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Small Cap Snipa@SmallCapSnipa

2026.09.16 17:22

Needham reiterated $CIFR buy rating and $25 price target on ERCOT Batch Zero conditional classifications: They believe a 16.5x their 2028 EV/Adj. EBITDA estimate is appropriate given Cipher’s long-term contracted cash flows, vertically integrated development capabilities and embedded optionality across its site portfolio. The firm believes 1GW of conditionally approved Base Load capacity still represents a significant pipeline of capacity, despite the headline "miss" on expectations.