Northland Upgrades Applied Digital (APLD) Following Hyperscaler Expansion Commentary

Group 1 - Applied Digital Corporation (NASDAQ:APLD) is considered one of the worst AI stocks to invest in according to Reddit discussions [1] - Northland analyst Mike Grondahl raised the price target for Applied Digital from $40 to $56, maintaining an Outperform rating, following management's comments about advanced negotiations with a new investment-grade hyperscaler [1] - The negotiations involve three potential sites with a total capacity of 900 MW, indicating significant expansion opportunities for the company's data center infrastructure [1] Group 2 - Texas Capital analyst Derrick Whitfield initiated coverage of Applied Digital with a Buy rating and a price target of $42, highlighting the company's expertise in hyperscale development and proprietary waterless cooling technology [2] - Whitfield believes that Applied Digital is strategically positioned to secure leases for a significant portion of its land and power portfolio, which has a capacity of up to 4.3 gigawatts [3] - The company operates in the digital infrastructure solutions sector, focusing on HPC and AI industries in North America through its Data Center Hosting and HPC Hosting businesses [3]