Hut 8 price target raised to $80 from $60 at Roth Capital

Roth Capital raised the firm’s price target on Hut 8 (HUT) to $80 from $60 and keeps a Buy rating on the shares following its River Bend lease announcement. The initial 330MW contracted has more legs behind it in terms of economics and size, while discussions with management point to a full backstop from Google (GOOGL) and the deal being scalable beyond 1GW, the analyst tells investors in a research note.