CASTLE ROCK, COLORADO — Two investment firms revised their price targets for Riot Platforms Inc. stock in early June 2026. Keefe Bruyette increased its price target to $37 from $23, and Clear Street raised its price target to $38 from $26.

On June 9, 2026, Keefe Bruyette maintained an Outperform rating on Riot Platforms Inc. stock. Representatives from Keefe Bruyette had visited Riot Platforms' Corsicana facility. Keefe Bruyette noted that Riot Platforms possesses the necessary power and has secured key equipment in advance. The firm expressed increased confidence in Riot Platforms' data center capabilities, specifically its ability to secure tier-3 capacity leases at its Corsicana and Rockdale sites. Furthermore, strong customer demand and ongoing discussions with large cloud and artificial intelligence (AI) companies were identified as potential growth opportunities for Riot Platforms.

Clear Street reiterated a Buy rating for Riot Platforms Inc. stock on June 4, 2026. The firm attributed its revised price target to growing confidence in Riot Platforms' AI and high-performance computing (HPC) opportunities, which are driven by increased investor interest in data centers. Riot Platforms Inc. operates as a Bitcoin mining company, a sector listed on the NASDAQ under the ticker symbol RIOT. The company was founded in 2000 and is headquartered in Castle Rock, Colorado.

Riot Platforms Inc. operates in two segments: Bitcoin mining and Engineering. The company offers infrastructure for Bitcoin mining and provides data center services.

Why It Matters

The upward revisions in price targets by Keefe Bruyette and Clear Street indicate an increased valuation of Riot Platforms Inc. by these investment firms. These changes reflect an assessment of the company's operational infrastructure, including its data center capabilities and power access, as well as its potential for growth in the AI and HPC sectors. The firms cited the company's ability to secure capacity leases and engage with major cloud and AI companies as factors contributing to these revisions.