Jones Trading Starts Digi Power X Inc (DGXX) at Buy

Jones Trading analyst Kevin Dede initiates coverage on Digi Power X Inc (NASDAQ: DGXX) with a Buy rating and a price target of $8.00.

The analyst comments: “Stealing a step in front of other ex-miners-now-AI hosters, Digi Power X boasts two HPC-related customers on top of its own 60MW power plant in North Tanawanda—a position we imagine many of its competitors covet. Still flying under the radar since we started watching it in 2020, we see advantages for investors: (1) a history of developing infrastructure and running power assets; (2) a solid pipeline of facilities to bring to market, including what could be a 1GW site in West Virginia, a jurisdiction we imagine would be supportive; (3) grandfathered New York State power generation and hosting assets, producing revenue and somewhat dodging adverse political headwinds; and (4) insider ownership strongly aligned with shareholders. We are initiating coverage with a Buy rating and setting a conservative target of $8.”

For an analyst ratings summary and ratings history on Digi Power X Inc click here. For more ratings news on Digi Power X Inc click here.

Shares of Digi Power X Inc closed at $4.59 yesterday.

You May Also Be Interested In

• Jones Trading Starts Hut 8 Mining Corp. (HUT) at Buy
• Jones Trading Assumes IREN Ltd. (IREN) at Hold
• Charles River Labs (CRL) PT Raised to $340 at Jefferies