Cipher Mining Inc. (CIFR) currently holds an average brokerage recommendation (ABR) of 1.40, indicative of a rating between Strong Buy and Buy. This is based on recommendations from 10 brokerage firms, where 70% of the recommendations are Strong Buy and 20% are Buy.
Despite a favorable ABR, analysts caution against relying solely on these ratings for investment decisions. Research indicates that brokerage analysts often exhibit a positive bias due to vested interests, issuing approximately five Strong Buy recommendations for every Strong Sell.
For Cipher Mining, the Zacks Consensus Estimate for the current year remains unchanged at -0.05, resulting in a Zacks Rank of 3 (Hold). This suggests a cautious investment strategy despite the current positive ABR.
