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Analyst Upgrades Riot For 'Best Relative Upside'; Foresees 134% Growth For Another Bitcoin Mining Stock

Benzinga ·  Mar 20 08:51

JPMorgan analyst, Reginald L. Smith, has upgradedRiot Platforms Inc(NASDAQ:RIOT) to Overweight from Neutral. This upgrade comes on the heels of a promising forecast for Riot's hashrate growth.

Smith has a Dec. 2024 price target of $15, implying an upside of 35% from current price levels. Smith's analysis also indicated a potential surge of 134% in another Bitcoin mining stock's price by December 2024.

Let's first dive into the Riot investment thesis and reveal the stock with 134% potential.

Riot Stock Offers The 'Best Relative Upside'

Smith likes Riot's "unique combination of industry-leading power contracts, scale and liquidity...

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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