Applied Digital jumps after Wells Fargo initiates with 'overweight'

Applied Digital

17/09/2026 13:18

** Shares of data center provider Applied Digital APLD.O rise 4.5% to $25.48 premarket
** Wells Fargo initiates coverage on APLD with an "overweight" rating and PT of $50
** New PT implies a ~105% upside to the stock's last close
** Brokerage calls APLD one of its top ideas, citing more than 1.4 gigawatts of contracted capacity across five campuses and three states
** Wells Fargo expects roughly 250 megawatts of additional lease signings by year-end at 15%-20% higher pricing than initial leases
** Average rating of 14 analysts is "buy"; their median PT is $73 — data compiled by LSEG
** Up to last close, stock had fallen ~1% this year

 (Reporting by Prathik Jayaprakash in Bengaluru)
 ((Prathik.Jayaprakash@thomsonreuters.com))