** U.S.-listed shares of bitcoin miner Hut 8 HUT.O jump 11% to $29.65, on track for best day since Nov. 27
** Stock outperforming most bitcoin stocks on the day
** JonesResearch initiates coverage of HUT with "buy" rating and $36 price target
** PT represents nearly 35% upside to previous close of $26.69
** Analyst Stephen Glagola expects Hut 8's mining operations to significantly improve over next 12 months
** Says stock "solid proxy" for bitcoin price given HUT's bitcoin BTC= held per share
** Says market currently underappreciating HUT's chances to land a HPC (high performance computing) deal
** 7 other brokerages covering the stock rate it "buy"; their median PT is $32
** HUT has more than doubled in price this year, tracking a strong rally in bitcoin
(Reporting by Lisa Mattackal)
((LisaPauline.Mattackal@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.