KBW Boosts Riot Platforms Target to $37, Cites 756MW Capacity Pipeline
RIOT•KBW raised its Riot Platforms price target to $37 from $23 after touring its Corsicana data center, noting active discussions for 756MW capacity and a planned AMD lease expansion. The firm lifted 2026 revenue forecast to $621.5m and EBITDA to $51.8m while trimming 2027 estimates post expansion revision.
1. Price Target Increase
KBW raised Riot Platforms’ price target to $37 from $23 after touring the Corsicana facility and meeting key executives, highlighting strengthened confidence in the data center team’s execution and tier-3 leasing strategy.
2. Data Center Capacity Pipeline
Analysts noted active discussions for 756MW net capacity at Corsicana and 267MW at Rockdale, with AMD as the sole current tenant and plans to add two more within 18 months as customer flexibility boosts deal velocity.
3. Financial Forecast Revisions and Valuation
The firm lifted its 2026 revenue estimate to $621.5 million and EBITDA to $51.8 million, while trimming 2027 revenue to $684.7 million and EBITDA to $60.3 million based on a reduced AMD expansion, underpinning a sum-of-the-parts $37 target.
