Northland starts Bitdeer coverage with 'outperform' rating

Bitdeer Technologies

09/10/2024 15:57

** Northland Capital initiates coverage on bitcoin miner
Bitdeer Technologies  BTDR.O  with "outperform" rating and PT of
$13
    ** PT implies ~83.88% upside to stock's last close
    ** Brokerage says co is well-positioned to take advantage of
ongoing trends in bitcoin mining, with its new chip ready for
miner production
    ** BTDR is an attractive investment as it trades at a
significant discount relative to its peers, says Northland
Capital
    ** All of 10 brokerages covering the stock rate it "buy" or
higher; their median PT is $14 - LSEG data
    ** Including session's moves, stock down ~31% YTD

 (Reporting by Prakhar Srivastava in Bengaluru)
 ((Prakhar.srivastava2@thomsonreuters.com))