GERMAN INVESTMENT BANK HAUCK SETS PRICE TARGET FOR NORTHERN DATA AT EUR 100 PER SHARE

Posted 01 April, 2020

 

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 merging Northern Bitcoin, a Bitcoin mining company, with its U.S. counterpart, Whinstone, released last December. This combined enterprise has quickly become one of the leading players in the high-performance computing (HPC) market worldwide and is creating the world's largest high-performance computing unit in Texas.

 

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

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

 

Northern Data recently released a guide for 2020 with estimated sales of about $ 120 million. UNITED STATES OF AMERICA. Up to € 140 million and EBITDA is projected at € 45 to € 60 million. The increased demand for high-performance computers due to the turbulent crisis has accelerated the unprecedented growth of Scandinavian data.

 

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.

 

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