Applied Digital price target raised to $11 from $8 at Roth MKM

Roth MKM raised the firm’s price target on Applied Digital to $11 from $8 and keeps a Buy rating on the shares. Despite the increased interest in energy infrastructure and power assets for High-Performance Computing/AI and the run-up in related stocks with useable power assets, Applied Digital remains an overlooked and underappreciated story by the investment community, the analyst tells investors in a research note. Large-scale power assets to run large-scale data centers are becoming harder to come by, but Applied Digital was much earlier to this space than many of its bitcoin miner peers, who are now pivoting or diversifying, the firm added.