BTIG raised the firm’s price target on IREN (IREN) to $75 from $32 and keeps a Buy rating on the shares as part of a broader research note on Crypto Mining names. Channel checks continue to point to increasing demand for prompt power by neoclouds and some hyperscalers, which should continue to provide opportunities for companies with access to prompt power to secure HPC colocation contracts, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on IREN:
- Iris Energy call volume above normal and directionally bullish
- Moderately bullish activity in Iris Energy with shares up 3.13%
- IREN, WULF, BITF: Bitcoin Mining Stocks Pop as Bernstein Calls Them AI Infrastructure Winners
- Moderately bullish activity in Iris Energy with shares up 4.42%
- IREN Announces $875M Convertible Notes Offering