Keefe Bruyette Raises Riot Platforms (RIOT) PT to $23, Keeps Outperform Rating After AMD Data Center Lease Deal

Group 1 - Riot Platforms Inc. has been identified as a high short interest stock with significant upside potential, with Keefe Bruyette analyst Stephen Glagola raising the price target to $23 from $16 following a lease agreement with AMD [1] - The partnership with AMD is projected to generate approximately $311 million in contract revenue, providing Riot Platforms with a high-quality tenant and visibility for its HPC and AI strategy [2] - Needham also raised its price target for Riot Platforms to $30 from $28, citing the lease with AMD, although the lease economics are lower than industry peers, it offers an attractive yield on cost due to efficient capital expenditure of $3.6 million per MW [3] Group 2 - Riot Platforms operates as a Bitcoin mining company in the US, and while it shows investment potential, certain AI stocks are noted to offer greater upside potential with less downside risk [4]