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Applied Digital price target raised to $18 from $12 at Citizens JMP

Citizens JMP raised the firm’s price target on Applied Digital (APLD) to $18 from $12 and keeps an Outperform rating on the shares after Applied signed CoreWeave (CRWV) as its first meaningful customer for its 400 MW facility in North Dakota. The firm is not surprised to see the stock up on the news and expects this momentum to continue, the analyst tells investors in a research note.

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