Cantor Fitzgerald Assumes Iris Energy Ltd. (IREN) at Overweight

Cantor Fitzgerald analyst Brett Knoblauch assumes coverage on Iris Energy Ltd. (NASDAQ: IREN) with a Overweight rating and a price target of $23.00.

The analyst comments "IREN is approaching a meaningful growth inflection, with the company expecting hash rate capacity to expand from 9.4 EH/S in April to more than 40 EH/S by mid-2025. IREN has secured power capacity of 2,160 MW, which puts it in a unique position given the potential for additional hash rate growth and/or its AI/HPC ambitions. IREN's in the early stage of AI/HPC, but we believe this has the potential to be a meaningful revenue driver and diversifier for IREN."

For an analyst ratings summary and ratings history on Iris Energy Ltd. click here. For more ratings news on Iris Energy Ltd. click here.

Shares of Iris Energy Ltd. closed at $10.53 yesterday.

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