B. Riley raised the firm’s price target on Applied Digital (APLD) to $47 from $23 and keeps a Buy rating on the shares. Estimates and valuations for high performance computing-focused companies have been updated, lifting price targets by an average of 78% and 2026 forecasts by 5%, the analyst tells investors in a research note. Despite recent pullbacks, shares remain up sharply since midyear, supported by strong AI-related power and data center demand, with new deals, such as Google and Anthropic’s reported cloud partnership, potentially adding further upside, the firm says.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on APLD:
- Applied Digital Secures $5B Lease for AI Infrastructure
- Applied Digital announces $5B AI factory lease agreement
- Applied Digital Expands Capital Access with Agreement Amendment
- Applied Digital Raises Floor Price for Preferred Stock
- Mixed options sentiment in Applied Digital Corp with shares down 7.93%