TeraWulf price target raised to $10 from $8 at Northland

Northland raised the firm’s price target on TeraWulf (WULF) to $10 from $8 and keeps an Outperform rating on the shares after the company reported Q3 revenue and adjusted EBITDA that missed the firm’s estimates and self-mined 555 Bitcoin to ended the quarter with 10.0 EH/s. TeraWulf is now fully funded to execute its growth plans through 2025, targeting about 250 MW of HPC by year-end 2025, notes the analyst, who expects one to two high-performance computing, or HPC, customers to be secured by year-end 2024.