Bitdeer Technologies Group (NASDAQ:BTDR) is one of the hot tech stocks to buy according to Wall Street analysts. On October 22, B. Riley raised the firm’s price target on Bitdeer to $32 from $17 and kept a Buy rating on the shares. This sentiment was announced as the firm updated its estimates and valuations for companies focused on HPC, which resulted in an average increase in price targets of 78% and a rise in 2026 forecasts of 5%.
The firm noted that despite recent stock pullbacks, shares for these companies remain sharply up since midyear 2025. The performance is supported by strong demand for AI-related power and data centers. B. Riley suggested that new deals, such as the reported cloud partnership between Google and Anthropic, could also provide further upside to the sector.
Bitdeer Technologies Group (NASDAQ:BTDR) operates as a technology company for blockchain and HPC in Singapore, the US, Bhutan, and Norway.
While we acknowledge the potential of BTDR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
