Bitdeer price target raised to $22 from $14 at Needham

Needham raised the firm’s price target on Bitdeer (BTDR) to $22 from $14 and keeps a Buy rating on the shares. The firm is updating its model on refreshed expectations for machine manufacturing sales while also increasing its valuation multiple on growing confidence in Bitdeer’s high-performance compute opportunities, the analyst tells investors in a research note.