Maxim raised the firm’s price target on Hut 8 (HUT) to $30 from $23 and keeps a Buy rating on the shares. The company’s bitcoin mining operations spinoff allows it to focus on the steadier infrastructure development business, with its power-first branding and plans to aggressively execute on its ~13.9 gigawatt pipeline with plans to address artificial intelligence and bitcoin mining datacenter demand, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HUT:
- Hut 8 Mining call volume above normal and directionally bullish
- Crypto Currents: Trump signs executive order to allow crypto in 401(k) plans
- Hut 8 price target raised to $26 from $25 at B. Riley
- Are Trump’s New Tariffs About to Break Bitcoin Mining in the U.S.?
- Hut 8 reports Q2 EPS $1.18, consensus (14c)