Shares of Canaan Inc. (CAN), a leading provider of high-performance computing solutions, surged 6.39% on Thursday's intraday trading session following an analyst upgrade and increased price target by B. Riley.
B. Riley doubled its price target on Canaan to $4 from $2, maintaining a Buy rating on the stock. The investment firm's positive outlook and higher valuation likely fueled investor interest and buying in Canaan shares.
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