Needham raised the firm’s price target on Riot Platforms (RIOT) to $30 from $28 and keeps a Buy rating on the shares. The firm cites the company having signed a 25MW lease with AMD (AMD) at its newly acquired Rockdale site where it previously did not have full land ownership, and while the lease economics are significantly lower than peers, the yield on cost is attractive as capex is expected to be only $3.6m/MW, the analyst tells investors in a research note.
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