Analyst John Todaro of Needham maintained a Buy rating on TeraWulf Inc, with a price target of $6.00.
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John Todaro has given his Buy rating due to a combination of factors that highlight TeraWulf Inc’s potential for growth and operational improvements. The company reported an adjusted EBITDA that exceeded expectations, driven by better-than-anticipated mining gross profits, despite facing higher general and administrative expenses.
Additionally, TeraWulf Inc has made significant strides in expanding its power capacity, securing interconnection approval for 500MW with further approvals pending, which could increase capacity to 750MW. These developments, coupled with the anticipation of revenue generation from their CB-1 facility in August and CB-2 by the fourth quarter of 2025, reinforce the positive outlook. While there is some uncertainty due to a postponed earnings call, the potential for positive developments such as mergers and acquisitions adds to the optimism surrounding the stock.
Todaro covers the Financial sector, focusing on stocks such as Riot Platforms, TeraWulf Inc, and Marathon Digital Holdings. According to TipRanks, Todaro has an average return of 47.4% and a 69.13% success rate on recommended stocks.
In another report released on July 25, Compass Point also maintained a Buy rating on the stock with a $6.50 price target.