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Investing.com - Cantor Fitzgerald has significantly increased its price target on Iris Energy (NASDAQ:IREN) to $100 from $49 while maintaining an Overweight rating on the stock. According to InvestingPro data, IREN has shown strong price momentum recently, with the stock demonstrating significant volatility in its trading patterns.
The revision comes as the firm adjusts its AI Cloud Services revenue estimates for IREN, noting that the company has "heavily leaned into its AI Cloud Services segment" over recent months.
Cantor Fitzgerald believes this business will ultimately resemble that of CoreWeave, and despite IREN’s recent share price appreciation, the firm sees "more room to run" for the stock.
The analysis indicates IREN is trading at approximately a 75% discount to its neocloud peer group on a contracted megawatt basis, a gap Cantor expects will close over time, potentially resulting in a "material re-rating" of IREN shares.
Cantor Fitzgerald highlighted IREN’s unique position in the market, citing its access to land, power, capital, and data center expertise as factors that "could allow it to become one of the biggest providers of compute in the world."
In other recent news, CareView Communications announced an expansion of its partnership with Northeast Georgia Medical Center Braselton. The collaboration aims to enhance patient safety through the increased implementation of CareView’s virtual sitter platform. The 188-bed community hospital will integrate CareView’s Patient Safety System more broadly across its campus to support bedside care. This development was detailed in a press release from CareView, highlighting their commitment to improving healthcare delivery. The move underscores the growing trend of hospitals adopting advanced technology solutions to bolster patient safety measures. These recent developments are part of CareView’s ongoing efforts to expand its virtual care solutions within the healthcare sector.
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