Hut 8 price target raised to $124 from $89 at Rosenblatt

Rosenblatt raised the firm’s price target on Hut 8 (HUT) to $124 from $89 and keeps a Buy rating on the shares. Hut 8 announced a second major HPC contract with an undisclosed but top-tier investment-grade hyperscaler, with financial terms better than expected and revenue set to begin in 2Q27 alongside its first contract, while also benefiting from its first investment-grade construction bond, significantly strengthening its financial position, the analyst tells investors in a research note.