APLD

$APLD (-10,92%)
Needham raises its price target for Applied Digital from USD 66 to USD 83 and confirms its Buy recommendation. This follows the announcement of a 210-megawatt lease at Delta Forge-2 with the same US-based, investment-grade hyperscaler as DF-1 and PF-3. Needham continues to be positively surprised by the pace at which Applied Digital is signing additional capacity within its power portfolio. The bank believes the company can continue to secure new sites for the pipeline and sign additional leases.