Hut 8 price target raised to $36 from $32 at Canaccord

Canaccord analyst Joseph Vafi raised the firm’s price target on Hut 8 (HUT) to $36 from $32 and keeps a Buy rating on the shares. The firm said its Q2 results underscore continued incremental progress across the business and its transition to two streams of value creation. At this point, most operational rationalization and realignment with ABTC feels to be behind us, allowing the copmany to focus on expanding its power portfolio and asset base.