Hive Digital price target raised to $8 from $5 at H.C. Wainwright

H.C. Wainwright analyst Mike Colonnese raised the firm’s price target on Hive Digital (HIVE) to $8 from $5 and keeps a Buy rating on the shares following the “mixed” fiscal Q2 report. The company’s mining capacity set to double by summer of 2025, the analyst tells investors in a research note. The firm believes a large artificial intelligence deal is imminent given Hive Digital’s expertise and track record of operating GPUs and the company’s near-term tier three data center capacity, and would expect any such deal to be a positive catalyst for the stock.