Needham analyst John Todaro has reiterated their bullish stance on WYFI stock, giving a Buy rating on September 16.
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John Todaro has given his Buy rating due to a combination of factors that highlight WhiteFiber, Inc.’s promising future prospects. The company is on the verge of finalizing a significant lease agreement for their North Carolina site, which could expand up to 99MW. This development is expected to enhance their capacity and revenue potential significantly.
Additionally, WhiteFiber has successfully increased a letter of intent with a potential tenant from 20MW to 44MW, indicating strong demand. Although this expansion requires higher capital expenditure, it is anticipated that rental economics will improve, with base pricing being renegotiated upwards. Despite a miss in adjusted EBITDA due to one-time general and administrative expenses, the company’s revenue aligned with expectations, supporting the Buy rating and a price target of $34.