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IREN price target raised to $23 from $17 at Canaccord

Canaccord raised the firm’s price target on IREN (IREN) to $23 from $17 and keeps a Buy rating on the shares. The firm said thinking big is a theme that was quite evident again its FQ2 update, with solid progress across many fronts including pivoting some energized capacity at Childress to liquid-cooled AI data center colocation, expanded plans at Sweetwater with an additional campus (Sweetwater 2) and very nice BTC mining exahash expansion driving short term ROI and profit margin.

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