NC-1 deal a good one, but B. Riley cuts price target on cloud services outlook
Data center developer WhiteFiber’s (WYFI) first long-term colocation deal at its flagship NC-1 campus with Nscale Global supports management’s execution and its original deployment timeline, investment bank B. Riley said in a report Tuesday.
“We believe WYFI’s reaffirmation of its original deployment timeline demonstrates its execution capability and the benefit of the company’s retrofit model,” wrote analysts Nick Giles and Fedor Shabalin.
The analysts reiterated their buy rating on the stock while trimming their price target to $40 from $44 to reflect more conservative Cloud Services assumptions. That would be about 127% upside from last night’s close of $17.62, down more than 50% from a record high two months ago.
The analysts noted…
