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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Read More on IREN:
- Iris Energy: Strategic Expansion and Strong Performance Drive Buy Rating
- Iris Energy Ltd. Reports Record Revenue and Strategic Expansion
- IREN Limited Reports Record Revenue and Strategic Growth Initiatives
- IREN reports Q2 net profit after tax $18.9M vs. net loss ($51.7M) last quarter
- Iris Energy options imply 11.4% move in share price post-earnings
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