Terawulf Inc. (WULF) PT Raised to $14 at Cantor Fitzgerald

Cantor Fitzgerald analyst Brett Knoblauch raised the price target on Terawulf Inc. (NASDAQ: WULF) to $14.00 (from $11.00) while maintaining a Overweight rating.

The analyst commented, "With WULF having 391.9m common shares, 73.5m warrants, and 20m shares from Lake Cayuga, we are using a total share count of 485.4m, giving WULF a market cap of $4.35bn and enterprise value of $4.75bn. With shares trading at 7.5x contracted EBITDA, we see more upside for shares as we get closer to energization and as WULF announces additional contracts. We are reiterating our OW rating and increasing our PT to $14 (from $11) due to the contract expansion."

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