Morgan Stanley Turns Bullish on Hut 8 Amid AI Infrastructure Focus

Hut 8 Corp.'s stock (NASDAQ: HUT) jumped over 7% after Morgan Stanley initiated coverage with an 'Overweight' rating, sending shares of the company above a key trendline.

The investment bank assigned Hut 8 a $263 price target and argued that the company's energy assets and computing infrastructure position it to benefit from one of the fastest-growing segments of the technology market.

Analysts are increasingly incorporating Hut 8's expanding AI infrastructure business into long-term earnings expectations, rather than valuing the company solely on Bitcoin production.