The Seagulls reached the final four after a shootout win against Brighton on Sunday.
Hughton said, “Of course we can [upset the odds], but at this moment we're just delighted that we've gone through.
“At this moment they're one of the best teams in the world and going for trophies in four competitions.
“But as was shown today and yesterday, teams can get close to upsets. If you have enough going for you, and the opposition don't have one of their better days, then who knows what can happen?"