Applied Digital price target raised to $56 from $43 at Roth Capital

Roth Capital raised the firm’s price target on Applied Digital (APLD) to $56 from $43 and keeps a Buy rating on the shares following the fiscal Q1 report. The company is accelerating its high performance compute build-out with Harwood targeting its first building energized in late 2026 and advanced hyperscaler talks ongoing, the analyst tells investors in a research note. Roth believes Applied Digital is positioning itself for “industry-leading” contracted megawatts in 2026. While there were no big lease announcements as expected in the quarter, the company hinted it is moving faster in terms of development of data centers, contends the firm.