Northland analyst Mike Grondahl raised Applied Digital Corporation’s price target to $56 with an Outperform rating, citing advanced negotiations with a new investment-grade hyperscaler. Texas Capital analyst Derrick Whitfield initiated coverage with a Buy rating and $42 price target, highlighting the company’s expertise in hyperscale development and strategic positioning in the industry.

Applied Digital Corporation operates digital infrastructure solutions in North America, focusing on HPC and AI industries. The firm is in discussions with a new investment-grade hyperscaler, with potential expansion opportunities of 900 MW. Analysts see potential in APLD but recommend exploring other AI stocks for greater upside potential and less downside risk.

Read more at Yahoo Finance: Northland Upgrades Applied Digital (APLD) Following Hyperscaler Expansion Commentary