Compass Point Raises Price Target on Applied Digital (APLD) Following Major AI Data Center Lease Agreement
Key takeaways
- Compass Point boosted its price target for Applied Digital Corp (NASDAQ:APLD) to $70 from $45 on May 22, with a Buy rating, following the company’s announcement of a major data center lease contract.
- Applied Digital Corp (NASDAQ:APLD) signed a 15-year take-or-pay contract for 300MW of essential IT load at Polaris Forge 3, its fourth AI Factory campus, with a high-investment-grade hyperscaler based in the US.
- The agreement increases base-term contracted revenue by about $7.5 billion.
Compass Point Raises Price Target on Applied Digital (APLD) Following Major AI Data Center Lease Agreement Sheryar Siddiq Tue, June 2, 2026 at 4:37 PM GMT+7 2 min read APLD Applied Digital Corp (NASDAQ:APLD) ranks among the best short squeeze stocks to invest in. Compass Point boosted its price target for Applied Digital Corp (NASDAQ:APLD) to $70 from $45 on May 22, with a Buy rating, following the company’s announcement of a major data center lease contract.
Applied Digital Corp (NASDAQ:APLD) signed a 15-year take-or-pay contract for 300MW of essential IT load at Polaris Forge 3, its fourth AI Factory campus, with a high-investment-grade hyperscaler based in the US. The same client had signed Delta Forge 1 earlier in April.
The agreement increases base-term contracted revenue by about $7.5 billion. Overall, Applied Digital’s contracted essential IT load grew from 900MW to 1.2 GW, and its baseline contracted revenue across four campuses has risen to $31 billion.