JPMorgan upgraded Riot Platforms (RIOT) to Overweight from Neutral with a price target of $19, up from $15. The firm updated bitcoin miner ratings and price targets to reflect changes in bitcoin mining profitability, and upside from high performance compute colocation and cloud services. JPMorgan applies a 50% probability that Cipher, IREN and Riot sign high performance compute colocation deals at remaining near-term capacity they are shopping. It sees the most relative upside at Riot.
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