TeraWulf price target raised to $28 from $22 at Needham

Needham raised the firm’s price target on TeraWulf (WULF) to $28 from $22 and keeps a Buy rating on the shares. The company’s Q1 revenue missed estimates as a 117% sequential increase in high-performance compute lease revenue was partially offset by a 50% decline in mining revenue, though the firm is raising its price target and believes that Kentucky site is one of the next sites in the sector to get signed, the analyst tells investors in a research note.

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