H.C. Wainwright analyst Kevin Dede raised the firm’s price target on Applied Digital (APLD) to $12 from $10 and keeps a Buy rating on the shares. The company reported fiscal Q2 results and announced a “pivotal financing deal” with Macquarie Asset Management, the analyst tells investors in a research note. The firm says the financing reduced Applied’s equity requirement per MW to $750,000 from $1M and unlocks $300M from the existing $700M Ellendale outlay.
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