$WULF

Rothschild Redburn initiated coverage of TeraWulf (WULF) with a Neutral rating and $15 target, implying 11.8% downside. The firm used a discounted cash-flow model, citing potential upside from acquisitions and tenant signings, but risks from permitting and opposition. TeraWulf reported $31.9M in HPC lease revenue in Q2, with $19B in contracted revenue from a 20-year Anthropic lease. The company has $3B in cash and negative adjusted EBITDA of $18.3M.

TeraWulf (NasdaqCM:WULF) reported $31.9M in HPC lease revenue for Q2, with 102 MW live and 336 MW under construction. The company secured a 20-year, 401 MW lease with Anthropic, contingent on the Justified campus's completion. Analysts highlight the potential for significant revenue growth and earnings by 2029, but note risks related to funding and execution.

UBS initiated coverage on five AI data center colocation stocks with Buy ratings, citing rapid growth potential due to constrained compute supply and favorable power access. The stocks are Hut 8 Mining Corp (HUT), TeraWulf (WULF), Applied Digital (APLD), Core Scientific (CORZ), and Cipher Digital (CIFR). UBS estimates the group has secured 5GW of leased capacity, worth $125 billion, with an additional 12GW in the pipeline.

TeraWulf Inc. (WULF) shares fell 3.95% amid insider selling. CEO Paul B. Prager and director Walter E. Carter sold shares totaling $4.33M, while a Form 144 filing indicated potential future sales. The company reported $168.5M revenue, 84.3% gross margin, and significant losses. WULF's stock is volatile, with a high price-to-sales ratio.

UBS initiated coverage of five AI data center operators with Buy ratings, citing strong lease signings and tenant quality. The firms include Core Scientific (CORZ), Cipher Mining (CIFR), Applied Digital (APLD), TeraWulf (WULF), and Hut 8 (HUT). UBS estimates significant upside, with TeraWulf leading at 40% and Applied Digital at 33%. Key catalysts include new leases, tenant shifts, and potential REIT conversion.

UBS initiated coverage of Bitcoin miners Cipher Mining (CIFR), TeraWulf (WULF), Hut 8 (HUT), and Core Scientific (CORZ) with 'Buy' ratings, citing their pivot to AI data centers. The firm sees growth potential due to demand for AI infrastructure. All four stocks traded lower amid broader market weakness. UBS set target prices and identified near-term catalysts for each company.

Stifel upgraded Microsoft (MSFT) to Buy with a $575 price target, citing sustained revenue growth. Susquehanna upgraded RXO Inc. (RXO) to Neutral with a $19 target. JPMorgan upgraded Graphic Packaging (GPK) to Overweight with an $11.50 target. RBC upgraded Lakefront Biotherapeutics (LKFT) to Outperform with a $45 target. Guggenheim upgraded Editas Medicine (EDIT) to Buy with a $5 target. Wedbush downgraded Compass Therapeutics (CMPX) to Neutral with a $1 target.

Analysts made several calls: UBS initiated CoreWeave as Buy with a $120 PT (~40% upside), KeyBanc initiated Guardian Pharmacy as Overweight, Wolfe raised Amazon's PT to $320, BMO initiated HCA Healthcare as Outperform, Morgan Stanley reiterated SpaceX as Overweight, Wells Fargo initiated Beta Bionics as Overweight with a $28 PT, Oppenheimer initiated Teva as Outperform with a $50 PT, Bernstein initiated Amphenol and TE Connectivity as Outperform, Rosenblatt reiterated Palantir as Buy, UBS…

UBS initiated coverage on Terawulf Inc. (NASDAQ:WULF) with a buy rating and a $24.00 price target, citing strong leasing growth and significant revenue potential. The company has signed 840MW of IT leases, with analysts projecting 51% revenue growth for fiscal 2026. Terawulf's stock has delivered 54% returns over the past year and 51% year-to-date, currently trading at $17.33 with a market cap of $8.65 billion.

Morgan Stanley forecasts a 33 GW US data-center power shortfall, despite chip efficiency improvements. The bank expects AI systems to increase electricity demand. Morgan Stanley rates Cipher, Hut 8, Riot, TeraWulf, and Galaxy as Overweight, Applied Digital as Equal-weight, and MARA as Underweight.