Terawulf Inc. (WULF) PT Raised to $12 at Rosenblatt

Rosenblatt analyst Chris Brendler raised the price target on Terawulf Inc. (NASDAQ: WULF) to $12.00 (from $10.50) while maintaining a Buy rating.

The analyst comments "We continue to view WULF's recent HPC hosting agreements with Fluidstack and related Google investment as transformational for the company and its prospects. In our view, WULF is now one of the leading HPC data center providers in the U.S. and with Google owning 14%, WULF's financial profile has improved dramatically. In addition, Fluidstack has now already exercised its option for another 160 MW which is expected to be online in 2H26, adding further upside to our earnings estimates. Combined with a successful convert offering that fully funds the equity portion of the required capex, we believe WULF increasingly deserves a premium valuation. Accordingly, we reiterate our BUY rating and raise our Price Target to $12.00, now based on 13x our 2027 Adjusted EBITDA estimate."

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