Argo Blockchain price target lowered to $2.75 from $3.75 at Compass Point

Compass Point lowered the firm’s price target on Argo Blockchain to $2.75 from $3.75 and keeps a Buy rating on the shares after the company reported Q2 revenues and adjusted EBITDA that both came in better than expected. The firm’s lower price target reflects its increased calendar 2024 global hash rate forecast, which reduces margins.