US bank Upgrades TeraWulf Price Target, Offers Bullish Mining Prediction
Keefe, Bruyette & Woods upgraded TeraWulf to "outperform" and raised its price target due to an anticipated shift to high-performance computing leasing.Summary
Investment bank Keefe, Bruyette & Woods (KBW) upgraded Bitcoin miner TeraWulf (WULF) from "market perform" to "outperform" and significantly increased its share price target from $9.50 to $24. This bullish stance is based on the belief that investors are underappreciating the magnitude of TeraWulf's business mix shift towards high-performance computing (HPC) leasing, expected between 2026 and 2027, alongside a visible 646MW HPC leasing pipeline through 2027.
KBW noted that TeraWulf's joint AI-HPC strategy is boosting operating profitability, estimating that existing leases will drive a +505% EBITDA CAGR between 2025 and 2027, leading to multiple expansion. The bank suggested that the recent decline in WULF's stock price was mainly due to indiscriminate selling across the Bitcoin mining sector amid weakening mining fundamentals.
TeraWulf has recently secured significant deals, including a $3.2 billion data center expansion agreement and three lease agreements with AI infrastructure provider Fluidstack totaling $6.7 billion.
(Source：Cointelegraph)