Bitcoin's Surge Lifts Crypto Stocks as Analysts Raise Price Targets
Crypto-linked stocks rose on Tuesday as Bitcoin reclaimed $84,000, lifting broader crypto-related equities. B. Riley raised its price target for Riot Platforms to $33 from $28 while maintaining a 'Buy' rating.
Riot's stock gained 2.2% in morning trade, but retail sentiment around the company remained bearish on Stocktwits. The firm cited regulatory uncertainty, higher yields, and slower leasing activity as factors weighing on valuations.
B. Riley also cut its price target for IREN to $91 from $96, while maintaining a 'Buy' rating. Despite this, IREN's stock gained about 1% in morning trade.
Keefe Bruyette raised its price target for Robinhood to $115 from $100 and maintained a 'Market Perform' rating. The firm cited stronger-than-expected quarter-to-date volumes in equities, options, and crypto.