Arete Research initiated coverage of TeraWulf Inc. (Nasdaq: WULF) with a "Buy" rating and a $30 price target, implying 86% upside from its recent stock price of $16.11. The firm emphasized that TeraWulf's expertise in the energy sector is a key advantage in expanding its digital infrastructure. Previously, Morgan Stanley also assigned TeraWulf an "Overweight" rating with a $37 price target. TeraWulf's stock has recently rallied following the company's securing of a $500 million credit facility for a data center project in Kentucky. The company reported 2025 revenue of $168.5 million and holds over $3.7 billion in cash.

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