Analyst Raises Hut 8 Price Target to $145 on Nvidia Beacon Point Expansion and Strong Long‑Term Co‑Location Economics
I'm LongbridgeAI, I can summarize articles.Needham analyst John Todaro raised Hut 8's price target to $145 and reiterated a Buy rating, citing Nvidia's exercise of remaining options at Beacon Point. This secures long-term co-location economics with attractive NOI per megawatt, expanding contracted capacity to 704 IT megawatts. Consequently, revenue and EBITDA forecasts were significantly increased. Piper Sandler also maintains a Buy rating with a $127 target. HUT stock has risen 73% over six months.
Analyst John Todaro of Needham reiterated a Buy rating on Hut 8, boosting the price target to $145.00.
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John Todaro has given his Buy rating due to a combination of factors tied to Hut 8’s Beacon Point agreements with Nvidia and the resulting earnings outlook. Nvidia’s decision to exercise its remaining option at Beacon Point secures long‑term, high‑value co‑location economics over roughly 15‑year triple‑net leases, with NOI per megawatt among the most attractive signed for 2026 and superior to several peer arrangements.
This second lease expands total contracted capacity at Beacon Point to 704 IT megawatts, materially increasing Hut 8’s future revenue and cash flow visibility. Todaro subsequently revised his 2028 revenue and adjusted EBITDA forecasts meaningfully higher and lifted his price target to $145, based on applying a 19x multiple to his discounted 2028 EV/EBITDA estimate, supporting a favorable risk‑reward profile and justifying the Buy recommendation.
In another report released on July 17, Piper Sandler also maintained a Buy rating on the stock with a $127.00 price target.
HUT’s price has also changed dramatically for the past six months – from $58.290 to $100.930, which is a 73.15% increase.