BTIG raised the firm's price target on Hut 8 to $150 from $115 and keeps a Buy rating on the shares. The firm says the early innings of the global data center buildout continues in Q2 with prompt power demand "showing no signs of slowing down." BTIG continues to believe that companies with prompt power access will have "ample opportunities" to secure AI colocation contracts in the medium term. It upped price targets across the data center infrastructure group, saying demand for prompt power assets "is only intensifying," with five high performance compute infrastructure contracts signed among the public companies it follows in Q2.
