Riot Platforms price target lowered to $25 from $29 at Clear Street

Clear Street analyst Brian Dobson lowered the firm’s price target on Riot Platforms (RIOT) to $25 from $29 and keeps a Buy rating on the shares. The firm is adjusting its model to reflect reduced BTC mining value, though Clear Street also remains positive on shares of Riot Platforms due to strong HPC demand trends, which offset declining revenue in the legacy mining business, the analyst tells investors in a research note.