Hut 8 (HUT) Stock: Why Wall Street’s Highest Price Target Just Hit $85
TLDR
- Hut 8 stock jumped 3.1% in premarket trading after Benchmark analyst raised price target to $85, the highest on Wall Street
- The company signed a $7 billion, 15-year data center deal with Fluidstack for 245 MW of AI hosting capacity at River Bend campus in Louisiana
- Benchmark values the contracted cash flow and power demand at approximately $7.6 billion
- Stock has returned 102% year-to-date, closing at $44.12 against analyst fair value estimate of $56
- Current P/E ratio of 23.4x sits above calculated fair ratio of 7.9x, raising questions about valuation stretch
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