Cantor Fitzgerald raised the firm’s price target on TeraWulf (WULF) to $14 from $11 and keeps an Overweight rating on the shares. The firm sees additional share upside as TeraWulf nears energization and announces additional contracts. The Fluidstack deal with Google financing affirms the share thesis, driving average annual EBITDA of more than $600M, the analyst tells investors in a research note. Cantor believes that with Google’s backing, TeraWulf’s path to contracting all of its capacity is accelerated.
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