Roth/MKM Reiterates Buy Rating on Applied Blockchain Inc (APLD)

Roth/MKM analyst Darrem Aftahi reiterated a Buy rating and $58.00 price target on Applied Blockchain Inc (NASDAQ: APLD)

The analyst comments: "APLD remains one of the provers in our coverage. F3Q brings the first full quarter of lease revenue, and CoreWeave's (CRWV, Buy; Kulkarni) A3 credit upgrade should compress APLD's bond spreads. With 600MW signed and ~$1B in annualized NOI achievable over five years, the trajectory is set for a scalable platform. DF1 is now breaking ground in Louisiana (LA) with Macquarie development financing already deployed, we expect a third hyperscaler lease imminently. While some may enter the call with lease expectations, we would use any weakness as a buying opportunity. Reiterate APLD as a top pick."

For an analyst ratings summary and ratings history on Applied Blockchain Inc click here. For more ratings news on Applied Blockchain Inc click here.

Shares of Applied Blockchain Inc closed at $24.49 yesterday.

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