Wall Street closes at a record for the first time since end of January
Investing.com - Benchmark reiterated a Buy rating and $85.00 price target on Hut 8 Mining Corp. (NASDAQ:HUT) shares.
Analyst Mark Palmer maintained the rating following a fireside chat hosted by Benchmark-StoneX last week with Hut 8 CFO Sean Glennan. The stock currently trades at $52.36, reflecting a remarkable 279% gain over the past year, though InvestingPro analysis suggests the shares are overvalued relative to its Fair Value estimate.
Glennan said the company’s focus during 2026 would be execution, particularly regarding the development and energization of its River Bend AI data center project. The CFO also highlighted converting pipeline capacity into contracted revenue and continuing to originate and secure power.
Glennan emphasized that Hut 8 intends to differentiate itself through disciplined delivery on River Bend and other projects. He noted that many AI data-center developers are viewed as homogeneous in the industry.
The $85.00 price target remains unchanged from Benchmark’s previous rating on the stock, sitting between the Street’s low target of $55 and high target of $136. For deeper insights into HUT’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro alongside analysis of 1,400+ other US equities.
In other recent news, Hut 8 Mining Corp. has been the focus of several analyst updates. Arete Research initiated coverage with a buy rating, setting a street-high price target of $136, highlighting the company’s River Bend lease agreement as a positive factor. Meanwhile, Clear Street raised its price target for Hut 8 Mining to $70, maintaining a buy rating and citing upcoming execution milestones in 2026 as a key driver. In contrast, Cantor Fitzgerald lowered its price target to $68 from $72, maintaining an overweight rating, due to declining Bitcoin prices impacting mining revenue and lower power generation revenue. Needham also adjusted its outlook, raising the price target to $66 from $60, following fourth-quarter 2025 results that exceeded their revenue and adjusted EBITDA estimates, excluding Bitcoin.
In other company news, Vertiv announced the launch of a digital twin platform for AI data centers, transitioning from traditional building modeling. The Vertiv OneCore solution integrates multiple infrastructure elements into factory-tested modules, offering a more advanced approach to data center deployment. These developments highlight a period of strategic adjustments and technological advancements within the industry.
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