IREN Stock Gets a Big Upgrade as JPMorgan Flips From Underweight to Overweight
TLDR
- JPMorgan upgraded IREN from Underweight to Overweight, raising its price target to $65 from $46
- IREN trades at $43.83 and is positioning itself as a top-tier neocloud provider backed by an NVIDIA partnership
- Industry pricing has moved up from $10-15 per watt to $15-20 per watt and higher
- IREN raised its 2026 expected annual recurring revenue to $4.0 billion, up from $3.4 billion
- Analysts hold a “Moderate Buy” consensus with an average price target of $81.57
IREN Ltd. got a major vote of confidence on Monday when JPMorgan upgraded the stock from Underweight to Overweight, lifting its price target from $46 to $65. The stock was trading at $43.83 at the open.
JPMorgan’s call centers on IREN’s growing position as a neocloud provider. The firm pointed to IREN’s strategic partnership with NVIDIA as a key reason for its improved outlook.
Analyst targets on the stock range widely, from $43 to $131, showing just how divided Wall Street is on IREN’s potential.
IREN has raised its calendar year-end 2026 expected annual recurring revenue to $4.0 billion, up from $3.4 billion back in November. The company currently has $1 billion in operating ARR.
… Continue reading the full article at the original source below.
