Northern Data initiated with a Buy at Canaccord

Canaccord initiated coverage of Northern Data (NDTAF) with a Buy rating and EUR 60 price target The company is well positioned “at the forefront of a budding” artificial intelligence compute cycle, the analyst tells investors in a research note. The infrastructure providers, like Northern Data, “are building the railroad for the AI gold rush,” contends Canaccord. The firm says a “staggering level” of overall compute demand has opened up opportunities for new entrants like Northern Data to quickly enter the market.