TeraWulf price target raised to $9.50 from $6 at Needham

Needham raised the firm’s price target on TeraWulf (WULF) to $9.50 from $6 and keeps a Buy rating on the shares. The company’s Q3 top-line and EBITDA missed as mining came in lighter than expected, though the firm is adjusting its multiple as TeraWulf is nearer to getting a lease signed, bringing more clarity on HPC near term, the analyst tells investors in a research note.