WhiteFiber initiated with an Outperform at Citizens JMP

Citizens JMP analyst Greg Miller initiated coverage of WhiteFiber (WYFI) with an Outperform rating and $37 price target The firm launched coverage of five companies previously in bitcoin mining, saying they provide “critically-scarce” power supply for high performance compute and artificial intelligence. The deployment of graphics processing unit clusters represents an opportunity to “unlock significant value,” the analyst tells investors in a research note. Citizens sees strong pricing trends with a continued supply/demand imbalance for the group.