Hut 8 price target hiked to $165 at Benchmark as AI pivot reshapes valuation
Mark Palmer said Hut 8’s Beacon Point project transforms the company into an AI infrastructure platform with a long growth runway.
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Summary
- Benchmark raised its price target on Hut 8 to $165 from $85, while reiterating its buy rating on the stock, citing the value created by the Beacon Point AI data center project.
- The broker estimated Hut 8 has secured $16.8 billion in contracted lease value across two AI campuses, with potential to grow to $42.8 billion if renewal options are exercised.
- Hut 8’s expanding 9-gigawatt development pipeline and low-cost project financing support a long-term growth story despite recent share price weakness.
