Applied Digital Corporation shares rose about 4.6% to $25.20 in afternoon trading on Wednesday, after a burst of upbeat analyst coverage ahead of the company’s earnings next week. Northland Capital Markets analyst Mike Grondahl maintained an Outperform rating with a $40 price target, while Lake Street analyst Rob Brown reiterated a Buy rating and kept a $45 target, Benzinga reported. Northland also named Applied Digital its top pick for 2026, citing demand for power from hyperscalers — the largest cloud providers — and a potential move toward a REIT, or real estate investment trust, structure. Benzinga