Riot Platforms price target raised to $26 from $25 at Clear Street

Clear Street raised the firm’s price target on Riot Platforms (RIOT) to $26 from $25 and keeps a Buy rating on the shares. The firm remains positive on Riot following Q1 earnings, noting that forward commentary was positive and the high-performance computing business is gaining momentum. The firm added that it sees upside to its $26 target based on a sum-of-the-parts framework, incorporating the existing mining business and contracted data revenue and additional potential AI/HPC.