7/107 sources · 5 publishersUpdated Nov 10, 13:44 UTC
Jefferies and JPMorgan raise Riot Platforms price target to $28 on Corsicana lease deal
+1 new source since this summary was written
Jefferies upgraded Riot Platforms (RIOT) to Buy, lifting its price target from $13 to $28. JPMorgan also raised its target to $28 from $22, citing a new 15‑year powered‑land lease at the Corsicana site that carries $28 billion of contract value. The upgrades sent the stock higher in pre‑market trading.
Why it matters
The higher targets imply roughly 60% upside from the current price, which may attract additional buying interest. The lease provides a large, low‑capex revenue stream that could improve the company’s cash flow profile.
Key facts
- 1Jefferies upgraded Riot Platforms to Buy and raised its price target to $28 from $13. tradingview.com
- 2JPMorgan raised its price target to $28 from $22 while maintaining an Overweight rating. investing.com
- 3The Corsicana lease is a 15‑year triple‑net agreement with a total contract value of $28 billion. investing.com
- 4The lease provides 910 MW‑IT of capacity, larger than the previously expected 756 MW. stocktwits.com
- 5Riot reported third‑quarter 2026 revenue of $181 million, beating estimates of $159.71 million. investing.com
- 6The stock rose about 2% in pre‑market trading after the upgrades. stocktwits.com
Summary written by AlphAI AI Desk from 6 of 6 sources. Not investment advice. Figures are as stated by the linked sources.