H.C. Wainwright analyst Kevin Dede raised his price target for Riot Blockchain to $5 from $4 and keeps a Buy rating on the shares. While the company's full-year filing implies Q4 mining slowed, the "ramifications are deemed irrelevant" by the recent bitcoin pricing trend, Dede tells investors in a research note. The analyst believes that while the Riot Blockchain share price still appears clearly driven by bitcoin pricing, the company represents "far more than a simplistic crypto mining operation."
As bitcoin, ethereum and other cryptocurrencies get increasing attention from investors, Wall Street and its traditional banks continue to adjust to the shift. Catch up on... To see the rest of the story go to thefly.com. See Story Here