Roth Capital analyst Darren Aftahi raised the firm’s price target on IREN (IREN) to $82 from $35 and keeps a Buy rating on the shares after the company announced that it again doubled GPU buys to 23K, targeting over $500M in AI Cloud annual recurring and likely fully converting Prince George. The long-term mix for IREN is uncertain, but as visibility improves and execution is achieved, the firm contends that multiples could expand, the analyst tells investors in a research note.
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