APLD Morgan Stanley analyst Stephen Byrd initiated coverage of Applied Digital with an Equal Weight rating and $36.50 price target. The firm
APLD Morgan Stanley analyst Stephen Byrd initiated coverage of Applied Digital with an Equal Weight rating and $36.50 price target. The firm launched coverage on three additional Bitcoin miners turned-high performance computing companies, which it calls powered shell providers, noting that it remains bullish despite the recent market pullback among such "PSPs." Recent deals with hyperscalers show highly attractive terms, says the analyst, who adds that "now is the time to buy these stocks" as the firm believes the market correction is "at odds with the lucrative transactions into which these companies sign."
APLD Morgan Stanley analyst Stephen Byrd initiated coverage of Applied Digital with an Equal Weight rating and $36.50 price target.
The firm launched coverage on three additional Bitcoin miners turned-high performance computing companies, which it calls powered shell providers, noting that it remains bullish despite the recent market pullback among such "PSPs." Recent deals with hyperscalers show highly attractive terms, says the analyst, who adds that "now is the time to buy these stocks" as the firm believes the market correction is "at odds with the lucrative transactions into which these companies sign."