IREN Reports Q1 FY25 Results
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Iris Energy Ltd. (IREN) PT Raised to $23 at Cantor Fitzgerald
November 27, 2024 6:35 AM ESTCantor Fitzgerald analyst Brett Knoblauch raised the price target on Iris Energy Ltd. (NASDAQ: IREN) to $23.00 (from $20.00) while maintaining a Overweight rating.
The analyst comments "Recall, Bitcoin mining companies release monthly operational highlights leaving quarterly performance relatively predictable. Since IREN reported its October monthly on the morning of 11/6, Bitcoin prices have moved materially higher (as has hash price), making its Bitcoin mining business much more economical. Faced with the decision to try and strike a deal with a hyperscaler for capacity at Childress or to increase Bitcoin... More
