Applied Digital price target raised to $56 from $40 at Northland

Northland analyst Mike Grondahl raised the firm’s price target on Applied Digital (APLD) to $56 from $40 and keeps an Outperform rating on the shares following “some exciting commentary” on the Q2 call that indicates that the company is currently in advanced discussions with a new top-of-the-stack IG hyperscaler for potentially three sites and 900 MW.

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