Riot Platforms price target raised to $24.50 from $17 at Northland

Northland analyst Mike Grondahl raised the firm’s price target on Riot Platforms (RIOT) to $24.50 from $17 and keeps an Outperform rating on the shares. Given the company’s strategic positioning and pivot to high-performance computing, the firm believes Riot “deserves more credit” for improving and fine-tuning its bitcoin self-mining operations, its “massive BTC treasury,” and the work that has been put into preparing its Coriscana site for an HPC lease, the analyst tells investors.