Oppenheimer raised the firm’s price target on TeraWulf (WULF) to $25 from $20 and keeps an Outperform rating on the shares following preliminary Q1 results. The firm notes revenue expectations of $30M-$35M were a bit soft, as was EBITDA of $0M-$3M. Oppenheimer reiterates that near-term financial results are secondary to executing against its aggressive build plan, which remains on track with the on-schedule completion of the CB-2 facility at Lake Mariner.
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