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.

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 as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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