Keel Infrastructure Shares Drop Over 8% Following Analyst Price Target Cut
Keel Infrastructure (KEEL) shares fell by more than 8% on Monday following a significant price target reduction from Keefe, Bruyette & Woods analyst Stephen Glagola. While maintaining a 'market perform' rating, Glagola lowered his fair value assessment for the company from $4.50 to $3.00 per share. The sell-off was driven by investor concerns regarding construction costs and financing details for Keel's upcoming data center projects. Despite solid colocation fundamentals, the analyst highlighted risks including potential declines in client leases across the industry and regulatory uncertainty within the Texas market. As the company transitions from cryptocurrency mining to data center development, investors remain cautious about its ability to manage capital-intensive operations and complete permitting for priority sites.
Tickers: $KEEL
Topics: analyst downgrade infrastructure financing price target cut stock price movement
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