Morgan Stanley Turns Bullish on Hut 8 Corp.
Hut 8 Corp.'s stock (NASDAQ: HUT) surged over 7% on Thursday after Morgan Stanley initiated coverage, assigning an 'Overweight' rating and a $263 price target.
The investment bank's call marked another sign of increasing institutional interest in digital infrastructure companies through the lens of artificial intelligence. Analysts are now incorporating Hut 8's expanding AI infrastructure business into long-term earnings expectations, rather than solely valuing it on Bitcoin production.
Hut 8's access to reliable electricity has become a valuable asset as hyperscalers accelerate their investment in AI, making companies with existing power capacity strategically more valuable. The company is positioning itself at the intersection of digital assets, power infrastructure, and high-performance computing.