Riot Platforms, Other Powered Shell Providers Present Buying Opportunity, Morgan Stanley Says

11:44 AM EST, 11/09/2026 (MT Newswires) -- Riot Platforms (RIOT) and other powered shell providers may present a buying opportunity following recent share price weakness, Morgan Stanley said in a note Monday. The companies have signed attractive, long-term data center lease agreements and are trading below the estimated value of their existing contracts, the firm added. The bank said it estimates Riot's recently signed about 900-megawatt data center lease could generate $11.1 billion in net shareholder value, roughly twice the company's current market capitalization of $5.5 billion. The firm said it also sees potential for TeraWulf (WULF), Hut 8 (HUT), Galaxy Digital (GLXY), and Cipher (CIFR) to secure major data center lease agreements in the coming months. Morgan Stanley raised its price target for Riot Platforms from $35.50 to $41. It lowered its price targets for Hut 8 from $275 to $184, Cipher from $51.50 to $27.50, Applied Digital (APLD) from $41 to $25, and Galaxy Digital from $43 to $27. Price: 17.51, Change: +0.79, Percent Change: +4.76