Cantor Fitzgerald analyst Brett Knoblauch raised the firm’s price target on Riot Platforms to $23 from $20 and keeps an Overweight rating on the shares. Riot (RIOT) reported its first data center hosting revenue with early traction from its AMD (AMD) partnership, including an expanded lease option and unchanged capex despite higher potential site capacity, supporting improved Corsicana valuation and reinforcing an attractive risk/reward profile as its data center strategy begins to scale, the analyst tells investors in a research note.
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