Gregory Lewis, an analyst from BTIG, maintained the Buy rating on Riot Platforms (RIOT – Research Report). The associated price target is $22.00.
Gregory Lewis has given his Buy rating due to a combination of factors that reflect Riot Platforms’ promising financial outlook. The company’s revenue projections for the fiscal years 2025 and 2026 have been revised upwards, driven by anticipated increases in Bitcoin prices and strategic growth initiatives, including the expansion at Corsicana and the integration of a newly acquired engineering business. These factors are expected to enhance Riot’s operational efficiency and capacity, contributing to a more robust financial performance.
Furthermore, Riot Platforms is currently trading at a multiple of its 2026 consensus EBITDA, which suggests a favorable valuation relative to its projected growth. The price target of $22 is based on a projected 2027 EBITDA, accounting for the development timelines of new facilities in Corsicana and Kentucky. This valuation assumes a significant increase in Bitcoin prices by 2027, which supports the potential for substantial returns, justifying the Buy rating.
According to TipRanks, Lewis is an analyst with an average return of -0.7% and a 41.43% success rate. Lewis covers the Energy sector, focusing on stocks such as Scorpio Tankers, Tidewater, and DHT Holdings.
In another report released on March 5, Roth MKM also maintained a Buy rating on the stock with a $20.00 price target.