WhiteFiber price target lowered to $38 from $45 at Needham

Needham lowered the firm’s price target on WhiteFiber (WYFI) to $38 from $45 and keeps a Buy rating on the shares. The company failed to announce an anticipated lease at NC-1, but with that said, the management believes they are “very close to the goal line” after narrowing to two parties, with discussions already extending to the Phase Two delivery, the analyst tells investors in a research note. On Cloud, WhiteFiber is navigating a headwind as it winds down a $21M annualized customer contract, creating a temporary Q4 underutilization, the firm added.