Craig-Hallum Raises Price Target for Applied Digital (APLD), Keeps Buy Rating

Applied Digital Corporation (NASDAQ:APLD) is one of the 12 Best Performing AI Stocks So Far in 2025. On July 31, Craig-Hallum increased its price target for Applied Digital Corporation (NASDAQ:APLD) from $12 to $18 while keeping a Buy rating.

The firm highlighted the company’s recent 150 megawatt (MW) expansion and potential future opportunities.

Craig-Hallum pointed out that Applied Digital Corporation (NASDAQ:APLD) has experienced pressure over the past month and suggested that the market had not yet recognized the value of an additional 150 MW of capacity.

The increase in price target also reflects future opportunities. This includes the possibility of another campus in North Dakota with a hyperscale customer.

Craig-Hallum also noted the potential for Polaris Forge 1 campus in Ellendale, North Dakota, to scale up to 1 gigawatt (GW) capacity.

Applied Digital Corporation (NASDAQ:APLD) is a technology company that designs, develops, and operates digital infrastructure for the high-performance computing (HPC) and artificial intelligence (AI) industries.

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