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.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on APLD:
- Morning News Wrap-Up: Monday’s Biggest Stock Market Stories
- Applied Digital price target raised to $17.50 from $8.50 at Roth Capital
- APLD Stock Soars 42% after $7B Deal with CoreWeave (CRWV)
- Applied Digital Corp call volume above normal and directionally bullish
- Unusually active option classes on open June 2nd
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue