Riot Platforms (RIOT) Soars 11.8% as Bitcoin Targeted to Soar to $200K

Core Viewpoint - Riot Platforms Inc. (NASDAQ:RIOT) has seen significant stock price increases due to optimism surrounding Bitcoin's potential to reach $200,000 and positive analyst ratings [1][2][3]. Group 1: Stock Performance - Riot Platforms' stock rose 11.81% to close at $19.78, marking a continuation of gains for a second consecutive day [1]. - The company rallied alongside peers such as CleanSpark, MARA Holdings, and Galaxy Digital, driven by bullish sentiments regarding Bitcoin [2]. Group 2: Analyst Ratings - Citigroup upgraded Riot Platforms' stock rating from "hold" to "buy" and increased its price target from $13.75 to $24, reflecting optimism in the high-performance computing (HPC) sector [4]. - JPMorgan also upgraded Riot Platforms to an "overweight" rating from "neutral" and raised its price target from $15 to $19 [5]. Group 3: Market Context - The positive outlook for Riot Platforms is linked to the company's transition towards HPC services, aiming to meet the growing demand from the AI market [4].