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Arete Research has officially started tracking TeraWulf Inc. (NASDAQ: WULF) with a "buy" rating as of Monday, March 23.
The firm set a price target of $30.00, which suggests the stock could potentially rise 86% from its recent price of $16.11.
This positive outlook matches the general "strong buy" consensus currently held by market analysts.
On February 9, Morgan Stanley initiated coverage of three publicly traded bitcoin mining companies, backing two names tied to data center leasing while taking a more cautious stance on a miner focused on bitcoin exposure. One of the companies is TeraWulf.
Related: Morgan Stanley has a new investment plan for traders in 2026
Analyst Stephen Byrd and his team started coverage of TeraWulf with Overweight ratings and set price targets of $37.
This institutional support highlights a growing interest in companies that provide the physical infrastructure needed for modern computing.
Expertise in energy drives expansion
Following Stanley's decision, the fresh step by Arete Research to recommend the stock is largely based on the background of the TeraWulf team.
Arete analyst Pierre-Marie D’Ornano pointed out that the company’s deep roots in the energy sector give them a unique advantage in the digital infrastructure market.
This expertise is expected to help the company grow its power capacity and expand its physical locations more effectively than competitors.
New funding for major projects
TeraWulf has already seen positive movement in its stock price, which jumped nearly 13% on March 16.
This rally happened after the company secured a $500 million credit facility.
Led by Morgan Stanley Senior Funding, this short-term funding is dedicated to building and developing a large data center in Hawesville, Kentucky. To maintain this agreement, TeraWulf must keep at least $100 million in available cash.
The company recently also shared its full-year financial results for 2025. TeraWulf reported total revenue of $168.5 million for the year and held over $3.7 billion in cash and equivalent assets by the end of December 2025.
While revenue from digital assets like Bitcoin dropped in the final three months of 2025 due to lower production and prices, the company saw growth in other areas.
Revenue from leasing high-performance computing (HPC) space rose to $9.7 million in the fourth quarter, up from $7.2 million in the previous quarter.
This article has been published in thestreet.com via Yahoo News.
Morgan Stanley-backed crypto stock gets 86% upside rating
Arete initiates coverage on TeraWulf with $30 price target.Analysts see strong upside potential based on current stock levels.TeraWulf seen benefiting from expanding digital infrastructure market. Arete Research has officially started tracking TeraWulf Inc. (NASDAQ: WULF) with a "buy" rating as...
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