B. Riley raised the firm’s price target on Hut 8 (HUT) to $61 from $26 and keeps a Buy rating on the shares. Estimates and valuations for high performance computing-focused companies have been updated, lifting price targets by an average of 78% and 2026 forecasts by 5%, the analyst tells investors in a research note. Despite recent pullbacks, shares remain up sharply since midyear, supported by strong AI-related power and data center demand, with new deals, such as Google and Anthropic’s reported cloud partnership, potentially adding further upside, the firm says.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HUT:
- Hut 8 price target raised to $65 from $25 at Citizens JMP
- British Columbia proposes new power rules for AI, data centers
- British Columbia proposes new power rules for AI, data centers, CP says
- Hut 8 price target raised to $74 from $33 at Piper Sandler
- Crypto Currents: Coinbase makes investment in CoinDCX