According to the source, Benchmark raised its price target on Canaan (NASDAQ: CAN) and described the company as a turnaround story, indicating a more constructive stance from the covering broker, source: Benchmark. Canaan designs and sells Bitcoin mining ASIC machines for the BTC network, tying its revenue to miners’ hardware purchasing cycles, source: Canaan Inc. Form 20-F and investor relations materials. Equity markets typically treat broker price target increases and positive analyst language as bullish catalysts for near-term trading in the named stock, source: peer-reviewed research on market reactions to analyst recommendation and target revisions (Journal of Finance and related literature). Listed miners disclose that ASIC procurement and deployment plans depend on Bitcoin network economics, linking vendor outlooks with miner capex cycles that matter for BTC ecosystem activity, source: company filings and presentations from Marathon Digital and Riot Platforms.