TeraWulf Climbs 12% on $72 Price Target, 242% Upside Forecast
WULF•Morgan Stanley raised its price target on TeraWulf to $72 from $66.50, implying 242% upside from the $21.06 opening price and triggering a 12% intraday rally. The company’s $19 billion, 20-year lease deal with Anthropic prompted Needham to lift its price target to $33, underpinning extremely bullish retail sentiment.
1. Morgan Stanley Upside Forecast
Morgan Stanley increased its price target on TeraWulf to $72 from $66.50 while maintaining an Overweight rating, implying roughly 242% upside from the $21.06 opening price and sparking a 12% jump in shares.
2. Anthropic Lease Drives Upgrades
TeraWulf secured a $19 billion, 20-year lease with AI firm Anthropic, prompting Needham to lift its target to $33 from $28 and Rosenblatt to also raise its forecast on expectations of robust infrastructure demand.
3. Intraday Rally and Retail Sentiment
TeraWulf outperformed other Bitcoin miners that fell, topping retail chatter charts with extremely bullish sentiment as broader market weakness weighed on cryptocurrency stocks.
