In a report released today, John Todaro from Needham reiterated a Buy rating on TeraWulf Inc (WULF – Research Report), with a price target of $4.50.
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John Todaro has given his Buy rating due to a combination of factors including TeraWulf Inc’s progress on their Core42 HPC site, which is on schedule for energization by mid-2025. This development is pivotal as it is expected to enhance the company’s capabilities and expand its business relationships.
Additionally, the management’s decision to address potential conflicts of interest by altering their mining services relationship with Beowulf is seen as a positive step. This move, while potentially increasing costs in the short term, is anticipated to align management incentives better and alleviate investor concerns, thereby positioning the company for long-term growth. The analyst maintains a target price of $4.50, reflecting confidence in TeraWulf’s strategic direction and future prospects.
In another report released today, Roth MKM also maintained a Buy rating on the stock with a $6.00 price target.