Riot Platforms price target raised to $31 from $25 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Riot Platforms (RIOT) to $31 from $25 and keeps an Overweight rating on the shares. Riot on Friday announced it has acquired the land of its Rockdale location and signed a data center lease agreement with AMD (AMD), which could be the first of many deals that Riot could land, the analyst tells investors in a research note. Cantor thinks the likelihood of AMD excercising its options for 175 MW of additional capacity will increase as the capacity begins to come online.