12 Best Mid-Cap AI Stocks to Buy According to Analysts

10. Hut 8 Corp. (NASDAQ:HUT)

Potential Upside: 15.8%

Hut 8 Corp. (NASDAQ:HUT) started June with a positive update. On June 1, Keefe Bruyette reaffirmed its Outperform rating on the stock and raised its price target. The firm raised its price target on the shares from $89 to $138. According to the analyst, the company’s current valuation already reflects much of the value from its leased data center capacity that is still under development. However, further upside is still expected. This comes from its wider pipeline of power assets and expansion opportunities. These developments could support additional share price gains over the next 12 months.

Earlier, on May 14, Jefferies initiated coverage of Hut 8 Corp. (NASDAQ:HUT) with a Buy rating and a price target of $156. The firm started coverage of four AI data center developers, all of which have roots in the Bitcoin mining industry. According to the analyst, demand for AI data centers remains strong, while access to power continues to be the biggest concern for the industry. Jefferies also pointed to the company’s lease agreement with Fluidstack as a key strength.

Analysts led by Jonathan Petersen commented:

We view HUT as one of the most well-positioned of the new entrants, with highly favorable deals and a proven ability to meet hyperscaler specifications.

Hut 8 Corp. (NASDAQ:HUT) is an energy and digital infrastructure company operating across the United States and Canada. The company operates through four business segments: Digital Infrastructure, Power,  Compute, and Others.