RIOT — Riot Platforms, Inc. - Common Stock
Session close: $18.08. Regular-session share volume: 24,413,754. Change from previous close: +2.38%.
Key developments
Jefferies upgraded Riot Platforms to Buy from Hold and sharply raised its price target, with the analyst building the call around the company's Corsicana campus lease to an AI lab. The analyst described the powered-land structure as lower-risk for Riot, since the tenant shoulders more construction and financing cost while Riot collects rent, and called the deal a reset for the market. JP Morgan also raised its price target on the stock.
Company news This Riot Platforms Analyst Turns Bullish; Here Are Top 5 Upgrades For Tuesday · Company news JP Morgan Raises Price Target on Riot Platforms · Company news Jefferies Upgrades Riot Platforms to Buy From Hold · Company mentioned — Mentions RIOT in the article text. Riot Stock Dips: What's Going On?
The upgrade followed third-quarter results that beat revenue and earnings expectations, though cheaper bitcoin weighed on mining revenue even as production rose and engineering revenue more than doubled. Morgan Stanley separately flagged powered shell providers as a buying opportunity. Despite the analyst actions, shares slipped during the session.
Company mentioned — Mentions RIOT in the article text. Riot Stock Dips: What's Going On? · Company news Riot Platforms, Other Powered Shell Providers Present Buying Opportunity, Morgan Stanley Says
News sources
Company news JP Morgan Maintains Overweight on Riot Platforms, Raises Price Target to $28 · Company news This Riot Platforms Analyst Turns Bullish; Here Are Top 5 Upgrades For Tuesday · Company news JP Morgan Raises Price Target on Riot Platforms · Company news Jefferies Upgrades Riot Platforms to Buy From Hold · Company news Jefferies Upgrades Riot Platforms to Buy, Raises Price Target to $28 · Company news Morgan Stanley Maintains Overweight on Riot Platforms, Raises Price Target to $41 · Company news Riot Platforms, Other Powered Shell Providers Present Buying Opportunity, Morgan Stanley Says