Needham analyst John Todaro maintained a Buy rating on TeraWulf Inc today and set a price target of $21.00.
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John Todaro has given his Buy rating due to a combination of factors that highlight TeraWulf Inc’s strategic advancements and market positioning. The company has demonstrated its ability to secure new capacity in a market that is generally seen as constrained, as evidenced by their recent agreement with Fluidstack, which is backed by Google. This development boosts confidence in TeraWulf’s capability to achieve its annual capacity targets of 250-500MW.
Furthermore, Todaro notes that the overall power market remains tight, which is advantageous for miners like TeraWulf. Despite the constraints, there appears to be more available power for near-term leases than previously anticipated, which has led to an increase in the price target. These factors collectively reduce the risks associated with TeraWulf’s growth prospects and support the Buy rating.
According to TipRanks, Todaro is a top 25 analyst with an average return of 90.4% and a 77.19% success rate. Todaro covers the Financial sector, focusing on stocks such as TeraWulf Inc, Cleanspark, and Cipher Mining.
In another report released today, Citizens JMP also maintained a Buy rating on the stock with a $22.00 price target.