Riot Platforms price target raised to $25 from $23 at H.C. Wainwright

H.C. Wainwright analyst Mike Colonnese raised the firm’s price target on Riot Platforms (RIOT) to $25 from $23 and keeps a Buy rating on the shares. The company reported stronger than expected Q1 results and announced that AMD has exercised its 10-year, 25 MW expansion option at the Rockdale site, the analyst tells investors in a research note. H.C. Wainwright expects to see a “significant re-rating in the stock” as Riot executes on its high performance compete strategy and believes current levels represent an attractive entry point for investors.