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Investing.com - Cantor Fitzgerald has raised its price target on Iris Energy (NASDAQ:IREN) to $41.00 from $27.00 while maintaining an Overweight rating on the stock. The company, currently valued at $4.8 billion, has demonstrated impressive growth with revenue surging 128% in the last twelve months. According to InvestingPro data, the stock is trading near its 52-week high after delivering a remarkable 170% return over the past year.
The price target increase comes as Cantor Fitzgerald assesses IREN’s growing position in the AI data center market, with the firm’s analyst Brett Knoblauch noting robust demand for GPU compute services.
The research firm indicated its primary question isn’t about Iris Energy’s capability to establish AI data centers but rather the depth of its orderbook with potential GPU compute customers.
Cantor Fitzgerald cited early indications from the company suggesting extremely strong demand, with analysts anticipating a potential "flywheel effect" where growth in the cloud services segment could lead to increased legitimacy and subsequently larger, more frequent purchases.
Despite IREN shares reaching all-time highs in after-hours trading, Cantor Fitzgerald believes there is "more room to run," with the price target increase primarily attributed to the inclusion of recent GPU purchases in their valuation model.
In other recent news, IREN Ltd reported its Q4 2025 earnings, achieving record annual revenue. The company exceeded revenue forecasts, showcasing strong net income and significant growth in its operational capacities. This financial performance was a highlight for the company, marking a successful quarter. Additionally, the market reacted positively, although specific stock price movements are not the focus here. These developments underscore IREN’s position in the Bitcoin mining and AI cloud sectors. Analysts have noted the company’s impressive financial results, although no specific upgrades or downgrades were mentioned. These recent developments indicate a period of strong performance for IREN Ltd.
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