H.C. Wainwright raised the firm’s price target on Iren (IREN) to $56 from $45 and keeps a Sell rating on the shares. The company reported “underwhelming” earnings for fiscal Q1 and raised its “lofty” artificial intelligence cloud revenue guidance for 2026. H.C. Wainwright sees “quite high” execution and financing risks for Iren. It sees “significant risks” to the company meeting its 2026 revenue outlook.
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