TeraWulf price target lowered to $3 from $4 at Cantor Fitzgerald

Cantor Fitzgerald analyst Josh Siegler lowered the firm’s price target on TeraWulf to $3 from $4 and keeps an Overweight rating on the shares. The price target decrease reflects industry multiple compression and an elevated network hash rate. The firm expects the next phase of TeraWulf’s growth to come from its incremental 43 MW ‘Building 3’ addition to Lake Mariner’s mining campus, the analyst tells investors in a research note.