Crypto
Wall Street Analysts Boost BTBT, WULF Stocks Amid Shift Away From Bitcoin Mining
Two stocks, Bit Digital (BTBT) and TeraWulf (WULF), defied the broader market sell-off on Tuesday after receiving bullish backing from Wall Street analysts. H.C. Wainwright initiated coverage of BTBT with a 'Buy' rating and a price target of $4, implying potential upside of 145% from current levels.
The firm noted that Bit Digital has pivoted away 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 found a 'defensible floor' for WULF around $14 a share, where it traded for four straight sessions last week. The firm initiated coverage of TeraWulf with a 'Buy' rating and a $19 price target.