Needham Raises Price Target for Hut 8 Following Second Beacon Point AI Lease
Hut 8 Corp (NASDAQ: HUT) secured a second lease at its Beacon Point campus, prompting Needham to raise its price target from $128 to $145 and maintain a Buy rating. The new triple-net lease adds $9.8 billion in contract value with an annual rent increase of 3%, doubling the tenant's capacity to 704 MW.
Tickers: $HUT
Topics: AI data centers Hut 8 lease agreements Needham