Hut 8 price target raised to $64 from $24 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Hut 8 (HUT) to $64 from $24 and keeps an Overweight rating on the shares. Hut 8’s 8.65 GW pipeline is one of the largest pipelines in the firm’s coverage, though most of this is “under diligence,” the analyst tells investors in a research note. Riverbend remains the nearest term catalyst from its pipeline, but Hut 8 didn’t provide a real update on this though the company has been working on this site for nearly a year, Cantor adds.