TeraWulf gets 'buy' rating as Needham starts coverage

Terawulf

04/09/2024 12:29

** Brokerage Needham starts coverage on bitcoin miner
TeraWulf  WULF.O  with a "buy" rating and $6 PT, implying a 57%
upside to stock's last close
    ** TeraWulf is one of the best suited miners to convert data
center capacity to high-performance computing (HPC) - brokerage
    ** Needham expects TeraWulf to be early to market in brining
a 100-megawatt-plus site online for HPC
    ** Expects HPC to be a fast-growing, attractive and stable
margin business for miners with available power capacity
    ** All 8 brokerages rate the stock "buy" or higher; median
PT is $6 - LSEG data
    ** WULF shares up 52.9% YTD, as of last close

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))