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Investing.com - Cantor Fitzgerald raised its price target on Terawulf Inc. (NASDAQ:WULF) to $14.00 from $11.00 on Tuesday, while maintaining an Overweight rating on the stock. The new target comes as WULF shares have surged 79% in the past week and 115% over the last year, according to InvestingPro data.
The price target increase represents potential upside from the company’s current market capitalization of $3.68 billion, according to InvestingPro data, which indicates the stock is currently trading above its Fair Value. Get access to 17+ additional ProTips and comprehensive valuation metrics with InvestingPro.
Cantor Fitzgerald noted that Terawulf shares currently trade at 7.5 times contracted EBITDA, suggesting room for further appreciation as the company approaches energization and announces additional contracts. The company maintains a "Fair" overall financial health score of 1.98 out of 5, with particularly strong momentum metrics.
The firm’s analysis accounts for Terawulf’s 391.9 million common shares, 73.5 million warrants, and 20 million shares from Lake Cayuga, using a total share count of 485.4 million.
The price target adjustment was specifically attributed to Terawulf’s contract expansion, which Cantor Fitzgerald views as a positive development for the company’s growth prospects.
In other recent news, TeraWulf Inc. announced plans to offer $400 million in convertible senior notes due 2031, targeting qualified institutional buyers. The offering includes an option for initial purchasers to acquire an additional $60 million in notes, subject to market conditions. Meanwhile, Google (NASDAQ:GOOGL) has increased its financial backing for TeraWulf to approximately $3.2 billion, raising its ownership stake in the company to about 14%. This expanded partnership is linked to a new lease agreement for the Lake Mariner data center campus in Western New York.
Fluidstack, an AI cloud platform, has also opted to expand its presence at the Lake Mariner site, adding 160 megawatts of IT load capacity through a new facility. Operations at this new facility are expected to commence in the latter half of 2026. Additionally, Rosenblatt has raised its price target for TeraWulf to $10.50 from $6.00, maintaining a Buy rating. The firm highlighted the significant developments with Google and Fluidstack as beneficial for TeraWulf and the broader sector. These are some of the latest developments surrounding TeraWulf.
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