WhiteFiber, Inc. (WYFI) has received a new Buy rating, initiated by H.C. Wainwright analyst, Kevin Dede.
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Kevin Dede has given his Buy rating due to a combination of factors including WhiteFiber, Inc.’s strategic positioning within the high-performance computing (HPC) sector, which is experiencing rapid growth. The company’s spin-out from Bit Digital and its acquisition of Enovum Data Centers have laid a strong foundation for WhiteFiber to capitalize on the rising demand for HPC infrastructure, particularly in the context of artificial intelligence advancements.
WhiteFiber’s ability to quickly bring datacenter megawatts online is a significant competitive advantage, attracting attention from AI development companies. The rapid retrofitting of facilities like the one near Montreal showcases WhiteFiber’s speed to market, which is expected to generate revenue imminently. These strategic moves, coupled with management’s foresight in navigating the evolving technology landscape, underpin Dede’s confidence in WhiteFiber’s potential, leading to a Buy rating and a price target of $34.
According to TipRanks, Dede is a 5-star analyst with an average return of 11.9% and a 43.64% success rate. Dede covers the Technology sector, focusing on stocks such as CoreWeave, DeFi Technologies, and Applied Digital Corporation.