Needham Maintains Buy Rating on TeraWulf (WULF) Stock, Maintains PT

TeraWulf Inc. (NASDAQ:WULF) is one of the High-Flying Stocks to Buy Right Now. On January 16, John Todaro, an analyst from Needham, maintained a “Buy” rating on the company’s stock, and the associated price objective remained same at $21.00. The analyst’s rating is backed by factors supporting TeraWulf Inc. (NASDAQ:WULF)’s evolving business model as well as growth visibility.

Needham Maintains Buy Rating on TeraWulf (WULF) Stock, Maintains PT

The analyst believes that TeraWulf Inc. (NASDAQ:WULF) continues to reposition to a high-performance computing and AI infrastructure provider from a traditional miner. TeraWulf Inc. (NASDAQ:WULF) possesses a significant amount of IT load under contract, added the analyst. Also, it has a plans to add substantial incremental capacity each year, supporting revenue improvement.

Apart from the factors mentioned, the analyst also noted TeraWulf Inc. (NASDAQ:WULF)’s approach to site selection. This approach revolves around repurposing existing industrial locations having strong power infrastructure. This supports in shortening the development timelines and reducing the execution risk.

TeraWulf Inc. (NASDAQ:WULF) operates as a digital asset technology company. It develops, owns, and operates bitcoin mining facilities.

While we acknowledge the potential of WULF to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than WULF and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.