A Big Boost for Iren Stock
Iren stock jumped more than 17% on Wednesday, outperforming the broader market and leaving the S&P 500 in the red. The surge came after three Wall Street analysts delivered upbeat notes on the company, fueling strong investor optimism. While the index slipped 0.3%, Iren easily broke through the midweek slump.
Why Analysts Are Bullish
The excitement around Iren started when Arete Research initiated coverage on the Bitcoin mining sector. The firm placed Iren, Riot Platforms, and Cipher Mining on its “buy” list. Iren received a price target of $78 per share, with analysts praising its strategic pivot into the data center business.
Arete highlighted that Iren is self-funding new data center construction while also upgrading its Bitcoin mining hardware. Both moves signal smart positioning for long-term growth and stronger fundamentals.
Price Target Hikes Add Momentum
The bullish sentiment didn’t stop there. Two other analysts dramatically raised their targets:
Darren Aftahi of Roth/MKM maintained a buy rating and boosted his target from $35 to $82 per share.
Gautam Chhugani of Bernstein SocGen was even more aggressive, lifting his target from $20 to $75 per share while keeping a buy call.
Together, these moves reinforced investor confidence that Iren’s strategy could deliver major returns.
What’s Next for Investors?
Iren’s sharp rise underscores growing belief in its ability to expand beyond mining into high-demand data center services. Still, investors should weigh both the opportunities and risks before chasing the rally.
For now, analysts appear convinced that Iren’s pivot and upgrades put it in a strong position for future growth.
Stay updated instantly — follow us on Instagram | Facebook | X | LinkedIn
