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Needham raises Hut 8 Mining stock price target on data center lease
Needham has increased its price target for Hut 8 Mining Corp. (NASDAQ:HUT) to $128 from $88, maintaining a Buy rating. This adjustment follows a significant 352-megawatt data center lease at the company’s Corpus Christi site, with the potential for further expansion. Other firms like Citizens and Piper Sandler also raised their price targets for Hut 8, citing the company’s strategic growth in the AI and data center sectors.