IREN price target raised to $25 from $20 at Roth MKM

Roth MKM raised the firm’s price target on IREN (IREN) to $25 from $20 and keeps a Buy rating on the shares following the company’s November update. IREN’s hash rate expanded 33% to 28 EH/s and 31 EH/s in the coming weeks, and while a possible Bitmain ban could be a hiccup, the scale and relationships IREN has likely enable the company to seek other suppliers to fulfill the needed 19 EH/s to avoid energization delay, the analyst tells investors in a research note.