Compass Point Raises Price Target for Applied Digital Following Major Data Center Lease Agreement
Compass Point raised its price target on Applied Digital (NASDAQ:APLD) to $70 from $45, citing a new 15-year data center lease agreement with a US-based hyperscaler. The deal adds approximately $7.5 billion in contracted revenue and brings total baseline revenue across four campuses to $31 billion.
Topics: AI data centers Applied Digital Compass Point price target upgrade