Riot Platforms received a double upgrade from two major financial institutions, with JPMorgan upgrading its rating to Overweight and Citi upgrading to Buy. These upgrades reflect renewed optimism regarding Riot's strategic direction.
JPMorgan raised its price target for Riot shares to $18 from $15, while Citi increased its price target to $20 from $15. These higher targets are primarily driven by the perceived potential of Riot's AI pivot and the value of its Corsicana facility.
The analyst upgrades underscore Wall Street's growing confidence in Riot's strategy to leverage its large-scale power infrastructure for high-performance computing applications. JPMorgan also concurrently downgraded IREN and CleanSpark to Neutral.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.