Riot Platforms (RIOT – Research Report), the Financial sector company, was revisited by a Wall Street analyst today. Analyst John Todaro from Needham maintained a Buy rating on the stock and has a $15.00 price target.
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John Todaro has given his Buy rating due to a combination of factors that highlight significant opportunities for Riot Platforms. One of the primary reasons is the strategic importance of Riot’s Corsicana site, which is considered one of the most promising high-performance computing (HPC) locations in their coverage. The demand for inference workloads, which require low latency, is increasing, and Corsicana is well-positioned to meet this demand with its substantial capacity and advantageous location near Dallas.
Additionally, Riot’s management is keenly focused on transitioning to HPC, with expectations of advanced discussions with potential tenants by the second half of 2025. Although a lease is not anticipated until the first half of 2026, the potential financial impact of such a lease could significantly enhance Riot’s share price. This prospective growth and strategic positioning have led John Todaro to raise the price target for Riot Platforms to $15, reinforcing his Buy rating.
In another report released on June 13, J.P. Morgan also maintained a Buy rating on the stock with a $14.00 price target.