Clear Street raises Hut 8 Mining stock price target to $70 on AI growth

Investing.com - Clear Street raised its price target on Hut 8 Mining Corp. (NASDAQ:HUT) to $70 from $60 while maintaining a Buy rating on the stock.

The firm cited the company’s upcoming execution milestones in 2026 as a key factor behind the increased price target.

Clear Street analyst Brian Dobson commented, "We maintain our Buy rating and raise our target to $70 from $60, and would use recent volatility to build positions ahead of key 2026 execution milestones. In our view, successful delivery of River Bend and continued conversion of the development pipeline into contracted AI infrastructure capacity should support multiple expansion."The stock has delivered a remarkable 287% return over the past year, though InvestingPro Tips note that HUT generally trades with high price volatility. The current price of $54.20 sits below the analyst high target of $85, yet InvestingPro’s Fair Value analysis suggests the stock may be overvalued at current levels.

The analyst pointed to the River Bend project as a significant development for the mining company.

Clear Street expects the conversion of Hut 8’s development pipeline into contracted AI infrastructure capacity to drive valuation growth.

In other recent news, Hut 8 Mining Corp. reported its fourth-quarter 2025 earnings, revealing an earnings per share (EPS) of -$0.1101, which exceeded analysts’ expectations of -$0.1243. Despite this positive EPS surprise, the company’s revenue fell short, recording $121.37 million against the projected $128.09 million. For the entire year of 2025, Hut 8 Mining achieved sales of $235.1 million, a 44.8% increase from the previous year’s $162.4 million, with fourth-quarter sales reaching $88.5 million. Analysts at H.C. Wainwright maintained a Buy rating on the stock with a price target of $80.00, while Needham raised its price target to $66 from $60, citing the company’s strong execution outlook.

Cantor Fitzgerald, however, lowered its price target for Hut 8 Mining to $68 from $72, attributing the reduction to declining Bitcoin prices affecting mining revenue and lower power generation revenue. Meanwhile, Vertiv announced a shift to a digital twin platform for AI data centers, marking a move away from traditional building modeling. This new platform, Vertiv OneCore, integrates various infrastructure components into factory-tested modules, enhancing deployment efficiency. These developments highlight the ongoing strategic adjustments and market responses from both Hut 8 Mining and Vertiv.

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