Crypto
B. Riley Boosts Price Targets on Bitcoin Miners Amid Attractive Valuations
B. Riley raised price targets on Hut 8, Core Scientific, TeraWulf, and CleanSpark due to attractive valuations and historical strong recoveries after similar pullbacks.
Analyst Nick Giles said that the recent selloff in HPC-linked mining stocks was overdone, citing better AI sentiment and support from valuation dynamics.
The price targets were increased on Hut 8 to $163 from $130, Core Scientific to $42 from $33, TeraWulf to $40 from $32, and CleanSpark to $26 from $19.
CORZ stock led the group with a 7% increase in mid-morning trade, followed by WULF up 6%, CLSK up 5%, and HUT up 4%.