TeraWulf price target raised to $12 from $10 at Northland

Northland analyst Mike Grondahl raised the firm’s price target on TeraWulf (WULF) to $12 from $10 and keeps an Outperform rating on the shares. The company’s 200 MW deal with Fluidstack and partnership with Google is “game-changer,” with the $1.8B backstop reflecting strong confidence from one of artificial intelligence’s most influential players, the analyst tells investors in a research note. The firm believes Google’s backstop significantly enhances TeraWulf’s credit profile.