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Bernstein SocGen Group analysts reiterate "Outperform" rating for IREN, with a target price of $100, expecting approximately 120% upside.
Bernstein SocGen Group analyst Gautam Chhugani reiterated an "Outperform" rating for Iren Ltd. (IREN) on August 13, setting a price target of $100, implying an upside of approximately 120% from current levels. This price target is based on IREN's strategy to transition from a Bitcoin miner to an AI cloud service provider, with its "New Cloud" model expected to generate 5-10 times the revenue per megawatt compared to traditional hosting. Microsoft has officially accepted IREN's Horizon 1 data center in Childress, Texas, and IREN has achieved NVIDIA "Exemplar Cloud" status, further validating its strategy.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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