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German Investment Bank Hauck Sets Price Target for Northern Data at EUR 100 Per Share

Bitcoinist

Bitcoinist | Apr 01, 2020 | 14:07

Bank Sponsored
Sponsored Article

German Investment Bank Hauck Sets Price Target for Northern Data at EUR 100 Per Share

Bitcoinist

Bitcoinist | Apr 01, 2020 | 14:07


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German investment bank Hauck & Aufhaeuser, one of the largest German mid-market investment banks, has initiated research coverage for stock-market-listed data center operator Northern Data (German Stock Exchange, XETRA: NB2, ISIN: DE000A0SMU87).


Northern Data was created by a merger between Northern Bitcoin, a company with its roots in bitcoin mining, and US peer Whinstone, announced in December last year. The combined entity has quickly become one of the leading players in the high-performance computing (HPC) market globally and is building the world’s largest HPC facility in Texas.

Aroosh Thillainathan, Founder of Whinstone and now Group CEO Northern Data

Aroosh Thillainathan, Founder of Whinstone and now Group CEO Northern Data

Based on contracts already signed, Northern Data has recently issued guidance for the year 2020, with sales expectations in the region of EUR 120 million to EUR 140 million, and EBITDA expectations from EUR 45 million to EUR 60 million. The tremendous upsurge in demand for HPC, which has been turbo-charged by the corona crisis, has accelerated Northern Data’s growth beyond precedent.

12 months chart Northern Data

12 months chart Northern Data

Once the 3.6-gigawatt facility in Texas is fully up and running in 2022, this site alone could produce almost EUR 1 billion in annual pre-tax profits.

Hauck & Aufhaeuser has started coverage with a BUY rating and a target price of EUR 100 per share. Shares are currently trading at EUR 40 Euros. With 11.2 million shares outstanding, the current market cap is approx. EUR 450 million.


Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.


 

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