Bitdeer price target raised to $40 from $18 at Roth Capital

Roth Capital raised the firm’s price target on Bitdeer (BTDR) to $40 from $18 and keeps a Buy rating on the shares after hosting meetings with management. The company’s exposure to high performance computing and arterial intelligence may not be the narrative now, but “it will quickly become one in the next 6-9 months,” the analyst tells investors in a research note. The firm says Bitdeer is currently in negotiations on various potential HPC partnership structures that could feature preferred equity and/or joint ventures. Roth believes the company is favoring providing the land and power, with the partner helping with financing.