TeraWulf price target raised to $21.50 from $14 at Roth Capital

Roth Capital raised the firm’s price target on TeraWulf (WULF) to $21.50 from $14 and keeps a Buy rating on the shares. The firm is updating its model after an updated sum-of-the-parts valuation analysis on TeraWulf power portfolio, which takes the current HPC colocation agreements with Core42 and Fluidstack/Google while also adding the Lake Mariner estimated interconnect expansion longer-term and the Cayuga site power, the analyst tells investors in a research note.