Analysts Raise TeraWulf (WULF) Stock Price Targets Thanks to a $19 Billion Anthropic Deal

TeraWulf (WULF) stock received a wave of analyst updates after the company revealed a $19 billion deal with Anthropic on Monday. This is a lease agreement that will see Anthropic lease a data center from the digital infrastructure company's Justified Data site in Hawesville, Kentucky. This news was well received by investors, which resulted in major gains for WULF stock yesterday. Now, analysts are following that news up with price target increases and Buy ratings.

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What Are the Biggest Analyst Price Target Increases for WULF Stock?

Three analysts have increased their price targets for TeraWulf stock in light of the Anthropic deal. That includes:

• Four-star ATB Cormark Capital analyst Martin Toner, who increased his price target to $51 from $46, representing a 146.91% upside.

• Five-star Rosenblatt Securities analyst Chris Brendler, who boosted his price target to $30 from $27, suggesting a 45.24% upside.

• Five-star Needham analyst John Todaro, who raised his price target to $33 from $28, implying a 59.77% upside.

Toner listed the Anthropic lease deal as a major reason for his price target increase on TeraWulf stock. He also highlighted the majority sale of the company's Abernathy site to a Fluidstack-led group as another win. The analyst claimed this transaction unlocks significant capital while streamlining the company's portfolio.

TeraWulf Stock Movement Today

TeraWulf stock was down 7.7% on Tuesday, as the stock settled after yesterday's rally. Even with this drop, the stock has still rallied 78.24% year-to-date and 360.79% over the past 12 months. With today's analyst updates in mind, some investors may view this as a buying opportunity for WULF stock.

WULF stock trading activity today was elevated, as some 35 million shares changed hands. For perspective, the company's three-month average daily trading volume was about 27.19 million shares.

Is TeraWulf Stock a Buy, Sell, or Hold?

Turning to Wall Street, the analysts' consensus rating for TeraWulf is Strong Buy, based on 16 Buy ratings over the past three months. With that comes an average WULF stock price target of $37.50, suggesting a possible 83.37% upside for the shares. (See WULF Stock's Full Forecast)