Investment Firms AGP, Northland Initiate Coverage On Bitdeer (NASDAQ: BTDR) With Buy Ratings And Targets Close To 100% Higher – What’s Driving The Hype?
With the broader stock market flirting with record territory once again, the bulls seem to be in control for the moment. As of mid-October, the S&P 500 index has advanced 22.4%, fueled by technology stocks like Nvidia (NASDAQ:NVDA) that are leading the generative AI race. Furthermore, even the Dow Jones Industrial Average advanced on Thursday to its fourth record close in five sessions on Oct. 17.
One stock that also seems to have received some attention due to the positive Wall Street sentiment is Bitdeer Technologies Group (NASDAQ:BTDR), which continues to capture analysts’ attention. After debuting on the stock market in 2023 through a business combination with Blue Safari Group, Bitdeer stock has traded in a range of $2.77-$14.77 over the past 52-week period as of Oct. 18.
While technology leaders have been fueling the broader stock market rally in 2024, Bitdeer isn’t riding on any coattails. The company feels that there is a great deal for it to be excited about, not least of which is the deployment of half-a-dozen mining data centers across the U.S., Norway and Bhutan, plus additional capacity in the pipeline. This seems to have caused some Wall Street analysts to take notice.
Most recently, two new equity research firms have initiated coverage on Bitdeer stock, proving they want to document the company’s growth story fueled by innovations like cutting-edge Bitcoin mining equipment, global data centers, AI, strategic partnerships and more. Investors who are interested in learning more about Bitdeer’s stock can do so here.
Northland Capital Markets Expects Bitdeer Stock To Outperform
Last month, Northland Capital Markets analyst Mike Grondahl initiated coverage on Bitdeer stock with an “outperform” rating. The analyst firm predicts the stock price will nearly double from its …
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