Craig-Hallum more bullish on Hut 8 Corp., upgrades to Buy

As previously reported, Craig-Hallum analyst George Sutton upgraded Hut 8 Corp. to Buy from Hold with a $12 price target. Over the past 18 months, the firm has maintained a cautious view of Hut 8 Corp., considering its challenges with mining operations, contracts, strategy, and management. However, Craig-Hallum is now “delighted to see” these issues being effectively addressed, leading it to believe that the potential for growth and stock appreciation far outweighs the risks. The firm is confident that the company is on the verge of making a significant impact as it embarks on its growth journey and operationalizes projects from its “greater than 1.1 GW pipeline” of exclusive power opportunities.