Roth MKM raised the firm’s price target on IREN (IREN) to $25 from $20 and keeps a Buy rating on the shares following the company’s November update. IREN’s hash rate expanded 33% to 28 EH/s and 31 EH/s in the coming weeks, and while a possible Bitmain ban could be a hiccup, the scale and relationships IREN has likely enable the company to seek other suppliers to fulfill the needed 19 EH/s to avoid energization delay, the analyst tells investors in a research note.
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Read More on IREN:
- IREN downgraded to Neutral from Overweight at JPMorgan
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- Iris Energy Reports Revenue Growth and Expansion Plans
- Bitcoin at $100K Fuels U.S. Crypto Stock Surge
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
