Northland analyst Mike Grondahl raised the firm’s price target on Applied Digital (APLD) to $30 from $18 and keeps an Outperform rating on the shares as the firm revisits its valuation methodology for Ellendale and the company’s other high performance computing sites after Applied leased Ellendale’s 400 MW to CoreWeave (CRWV) and highlighted two other North Dakota sites along with a site in South Dakota.
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