Northern Data shares rise 2% with CG Capital Markets initiating coverage with "buy" rating

From Investing.com: 2025-01-02 07:15:02

Northern Data AG’s stock rose 2% as CG Capital Markets initiated coverage with a “buy” rating, predicting growth in AI-driven operations. A €60 price target reflects confidence in the company’s potential in high-performance computing and generative AI services. Analysts highlight Taiga Cloud’s revenue growth potential, with projections of €400-440 million by 2025. Northern Data’s shift from mining to AI infrastructure is seen as strategic, with a focus on energy-efficient, scalable solutions using NVIDIA GPUs. Potential divestiture of its Peak division could further enhance operational efficiency and fuel expansion in AI data centers. Despite recent gains, the stock is considered undervalued, with room for appreciation as utilization rates and efficiencies improve.



Read more at Investing.com: Northern Data shares rise as CG Capital Markets initiates coverage on stock ‘buy’ By Investing.com