Lake Street analyst Rob Brown raised the firm’s price target on Applied Digital (APLD) to $37 from $18 and keeps a Buy rating on the shares after the company noted it is in discussions with two additional hyperscalers for facilities in two new locations and has an active pipeline of 4GW. The firm believes Applied is starting to see the benefits of its first-mover position in the AI datacenter market and is monetizing its strategy of building capacity ahead of customer commitments, the analyst tells investors.
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