TeraWulf price target lowered to $9 from $11 at Roth MKM

Roth MKM lowered the firm’s price target on TeraWulf (WULF) to $9 from $11 and keeps a Buy rating on the shares. The company’s results and updates were “status quo” as TeraWulf’s Core42 deal holds at about 70MW with additional power under negotiations, the analyst tells investors in a research note. Costs were higher but if TeraWulf can keep annual average power cost under $0.05/kWh, its mining results should remain stable, the firm adds.