Hut 8 price target raised to $120 from $70 at Northland

Northland raised the firm’s price target on Hut 8 (HUT) to $120 from $70 and keeps an Outperform rating on the shares. With Q1 results, the company announced a 15-year, 352 MW IT, triple net lease with a new, undisclosed high-investment-grade tenant, notes the analyst, who says Hut 8″delivered another great lease and has a pathway to scale.”