Wall Street's Biggest IREN Bull Hiked Price Target to $142 After $9.7B Microsoft AI Deal
Following a $9.7B Microsoft AI deal, IREN's biggest bull raised its price target to $142, with other analysts also increasing their forecasts.Summary
Following IREN's $9.7 billion agreement with Microsoft (MSFT) to supply 200 megawatts of AI data center capacity, Wall Street analysts significantly raised their price targets for the company, which is pivoting from bitcoin mining to AI infrastructure.
Cantor Fitzgerald's Brett Knoblauch, IREN's biggest sell-side advocate, increased his price target to $142 from $100. Bernstein's Gautam Chhugani raised the target to $125 from $75, noting the deal cements IREN's position as an infrastructure player owning its power assets, unlike competitors like CoreWeave. Chhugani projects the pact could generate $2 billion in annual recurring AI cloud revenue for IREN by 2027, boosting his total 2027 forecast to $2.5 billion.
Roth Capital also lifted its target to $94. Despite the positive analyst sentiment, IREN shares were down slightly early Tuesday amid broader market declines.
(Source：CoinDesk)