Lake Street raised the firm’s price target on Applied Digital (APLD) to $18 from $14 and keeps a Buy rating on the shares. CoreWeave (CRWV) recently exercised its option for the third data center building and “momentum is increasing for Applied since landing CoreWeave,” says the analyst, who adds that Applied management’s statement that it was in advanced contract discussions with one of two additional hyperscalers as a potential new customers increases the firm’s confidence in Applied’s market position and stability of demand.
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