Keefe Bruyette ups TeraWulf price target after second colocation tenant secured

As previously reported, Keefe Bruyette raised the firm’s price target on TeraWulf (WULF) to $9.50 from $6.50 and keeps a Market Perform rating on the shares following the announcement of two long-term colocation agreements with Fluidstack. Google (GOOGL) also partnered to backstop $1.8B in support of project financing, notes the analyst, who looks “favorably” towards the deal as it diversifies the tenant base and enhances the company’s credit profile.