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The bank maintained its Buy rating after TeraWulf secured a 20-year Anthropic lease covering 401 MW of critical IT load in Kentucky.
Chris Brendler said New York’s permitting pause does not reach TeraWulf’s existing platform, leaving his BUY rating and $30 target unchanged.
TeraWulf shares rose more than 12% in morning trade after Morgan Stanley raised its price target and maintained an 'Overweight' rating.
Shares of TeraWulf (NASDAQ:WULF) are down 8% to $20.41 in Tuesday’s midday session, reversing yesterday’s rally on the Anthropic mega-deal. The drop lands in a broad AI-infrastructure pullback, with the NASDAQ 100 down 1.5% intraday. The move gives back most of the July 6 pop but leaves TeraWulf stock still up 78% year to date ... TeraWulf Drops 8% Even as Analysts Raise Price Targets on $19B Anthropic Deal, IREN Falls 7%, Applied Digital Slides 6%
KBW analyst Stephen Glagola says the 401 MW Anthropic lease at Hawesville produces roughly $19 billion in contracted revenue, with duration driving economics above expectations, but financing hinges on an…
The deal follows TeraWulf's acquisition of Century's former Kentucky smelter, which is being redeveloped into a large-scale AI data-center campus.
TeraWulf (WULF) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.