Hut 8 price target raised to $35 from $26 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Hut 8 (HUT) to $35 from $26 and keeps a Buy rating on the shares. The company reported strong Q3 results that exceeded estimates as it continues to execute well against strategic initiatives, the analyst tells investors in a research note. The firm expects a step function increase in the revenue base in 2025.