Hut 8 price target raised to $140 from $100 at Citizens

Citizens raised the firm’s price target on Hut 8 (HUT) to $140 from $100 and keeps an Outperform rating on the shares. Companies transitioning from bitcoin mining to AI-focused data center infrastructure are increasingly being validated as credible digital infrastructure providers, with Hut 8’s latest high-margin 352MW deal reinforcing the growing legitimacy and attractiveness of these platforms as demand from hyperscale and large-scale AI customers accelerates, the analyst tells investors in a research note.