Rosenblatt Securities raised its price target on Terawulf Inc. (NASDAQ:WULF) to $12.00 from $10.50 on Friday, maintaining a Buy rating on the bitcoin mining company’s stock. The new target aligns with the broader analyst consensus, as InvestingPro data shows analyst targets ranging from $6.50 to $14.00, with a strong Buy consensus rating of 1.36.
The price target increase follows what Rosenblatt describes as "transformational" high-performance computing (HPC) hosting agreements with Fluidstack and a related investment from Google (NASDAQ:GOOGL), which now owns 14% of Terawulf. The company, currently valued at $3.58 billion, has shown impressive revenue growth of 19.8% over the last twelve months.
Rosenblatt views Terawulf as "one of the leading HPC data center providers in the U.S." and notes that the Google investment has "improved dramatically" the company’s financial profile.
