Northland raised the firm’s price target on Applied Digital (APLD) to $40 from $30 and keeps an Outperform rating on the shares following what the firm calls an overall “solid quarter” that included several “exciting” high-performance computing developments progressing at various stages. The firm believes Applied is strategically positioned to scale with its $5B MAM facility effectively unlocking $20B-$25B in total capital that should enable it to finance and expand multiple AI campuses with minimal dilution.
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