Data center developer WhiteFiber’s (WYFI) first long-term colocation agreement at its flagship NC-1 campus with Nscale Global supports management’s execution and its initial deployment timeline, investment bank B. Riley said in a report Tuesday.
“We believe WYFI’s reaffirmation of its initial deployment schedule demonstrates its ability to execute and the benefits of the company’s modernization model,” analysts Nick Giles and Fedor Shabalin wrote.
Analysts reiterated their buy rating on the stock while reducing their price target from $44 to $40 to reflect more conservative assumptions on cloud services. That would represent an increase of about 127% from last night’s close of $17.62, down more than 50% from the all-time high two months ago.
Analysts noted that WhiteFiber is in advanced talks with lenders on a construction facility expected to close in early 2026, potentially with accordion functionality and credit enhancements that could lower its cost of capital.
As for valuation, B. Riley said WhiteFiber is trading at around 11x EV/EBITDA over its 2026 estimates and around 8x EV/EBITDA over its 4Q26 adjusted EBITDA rate, which he sees as a significant discount to its mid-to-teen peers.
Learn more: WhiteFiber signs 10-year, 40MW colocation deal with Nscale, valued at approximately $865 million
