Bitdeer price target raised to $35 from $20 at Northland

Northland raised the firm’s price target on Bitdeer (BTDR) to $35 from $20 and keeps an Outperform rating on the shares after the company reported its September production results and reported that the company is now shifting toward a more direct and integrated role in the HPC and AI data center market after the LOI for its 570 MW Clarington site expired in September. The firm notes that Bitdeer is now actively recruiting U.S.-based technical talent across multiple AI data center disciplines to accelerate its high-performance computing initiatives.