Riot’s shares have surged by over 20%, driven by positive evaluations from analysts predicting significant growth in the company’s financial performance. Analyst Mike Colonnese from H.C. Wainwright reaffirmed a Buy rating on Riot Platforms with a target price of $20.00. He highlighted Riot’s plans to enhance its hash rate and expand its capacity, supported by the operational commencement of a new facility in Texas. With a liquidity of over $1.2 billion, Riot is well-positioned for future growth.

Roth MKM analyst Darren Aftahi also expressed a bullish stance on Riot Platforms, maintaining a Buy rating with a price target of $25.50. He expects the company to achieve substantial revenue and EBITDA growth in fiscal 2024 and 2025. Aftahi emphasized Riot’s strong financial position, with significant cash and Bitcoin holdings. He believes that Riot is well-positioned for increased hash rate in the near future, which could drive further growth in stock valuation.

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