Riot Platforms price target lowered to $38 from $42 at Roth Capital

Roth Capital analyst Darren Aftahi lowered the firm’s price target on Riot Platforms (RIOT) to $38 from $42 and keeps a Buy rating on the shares after its Q1 results. The more structurally important datapoint of the quarter is Corsicana’s redesign where the two shells become one for the same $214M spend, which implies total campus capacity to 756MW, and the firm’s view remains that a formal Corsicana lease in the second half of this year remains the main catalyst for the stock, the analyst tells investors in a research note.