What's Going On With Bitdeer Technologies Stock?
Portfolio Pulse from Erica Kollmann
Bitdeer Technologies Group (NASDAQ:BTDR) shares are trading higher, following coverage initiation by multiple analysts. Benchmark's Mark Palmer set a $13 price target, highlighting the upcoming Bitdeer AI Cloud offering. BTIG's Gregory Lewis and B. Riley Securities' Lucas Pipes also initiated coverage with Buy ratings and price targets of $15 and $9, respectively. Bitdeer's expansion into AI, backed by its role in Nvidia Corporation's partner network, and its reduced electricity costs in Bhutan and Norway are key highlights.
March 15, 2024 | 4:48 pm
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Bitdeer Technologies receives bullish analyst coverage with price targets ranging from $9 to $15, highlighting its AI Cloud offering and reduced electricity costs.
The initiation of coverage by multiple analysts with Buy ratings and optimistic price targets is likely to generate positive sentiment among investors, potentially driving the stock price up in the short term. The focus on Bitdeer's AI Cloud offering and its strategic position within Nvidia's partner network further bolster its market perception.
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IMPORTANCE 90
RELEVANCE 100