Northern Data initiated with a Buy at B. Riley

B. Riley initiated coverage of Northern Data with a Buy rating and EUR 36 price target. With operations across both the U.S. and Europe, Northern Data boasts a diversified platform, the analyst tells investors in a research note. The firm expects the company to deploy 20,000 Nvidia H100 GPUs over the course of 2024 within Taiga and sees a number of potential catalysts for the equity in the near to medium term.