TeraWulf stock is feeling bearish pressure. Why is WULF stock dropping?
TeraWulf Signs Long-Term Lease With Anthropic
Needham Calls Anthropic Deal Evidence Demand Remains Robust
Needham analyst John Todaro on Tuesday raised his price target to $33 from $28 while reiterating a Buy rating, pointing to the Anthropic agreement as evidence that appetite for HPC capacity is holding up well across the sector. He also framed the Abernathy sale as a simplifying move, freeing management to concentrate on its own leasing pipeline rather than managing joint-venture complexity.
Todaro added that TeraWulf is working with Google, Amazon and Nvidia on a potential credit backstop for the lease, which is a change from its previous agreement that carried penny warrant.
