Analyst Gregory Lewis from BTIG maintained a Buy rating on Bitdeer Technologies and keeping the price target at $23.00.
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Gregory Lewis has given his Buy rating due to a combination of factors that highlight Bitdeer Technologies’ potential for growth and profitability. The analyst has updated revenue estimates for the company, projecting significant increases for the fiscal years 2025 and 2026. This adjustment is based on expectations around Bitdeer’s third-party rig sales, self-mining expansion, and the anticipated average Bitcoin prices during these periods.
Furthermore, the valuation of Bitdeer Technologies appears attractive, with the company trading at a multiple of its projected 2026 EBITDA. The price target set by Gregory Lewis reflects confidence in Bitdeer’s diverse power infrastructure, which offers cost advantages over competitors, as well as opportunities in high-performance computing and the ASIC business. These factors collectively support the Buy rating, indicating a positive outlook for the company’s future performance.
In another report released today, Needham also maintained a Buy rating on the stock with a $17.00 price target.
BTDR’s price has also changed slightly for the past six months – from $15.030 to $14.360, which is a -4.46% drop .