Crypto
Analysts Initiate 'Buy' Ratings for Bit Digital and TeraWulf
Analysts from H.C. Wainwright and Freedom Capital have initiated coverage of Bit Digital (BTBT) and TeraWulf (WULF), assigning 'Buy' ratings to both stocks.
H.C. Wainwright set a price target of $4 for BTBT, expecting the stock to rise about 145% from its current trading price of $1.60. The firm noted that Bit Digital has pivoted from being a Bitcoin (BTC) miner to a strategic asset company with two holdings: a majority stake in AI infrastructure company WhiteFiber (WYFI) and its accumulation of Ethereum (ETH).
Freedom Capital initiated coverage of TeraWulf with a 'Buy' rating and a $19 price target, finding a 'defensible floor' around $14 a share. The firm's analysis also found that WULF trades at a 25% discount to its net asset value.