Freedom Capital initiated coverage of Iren (IREN) with a Hold rating and $36 price target Though the firm sees potential upside in the stock to $43 within the next two years as the company completely converts its crypto mining capacity to serving AI customers, that could be a lengthier process than has been promised and one that adds execution risk, the analyst tells investors. The firm prefers other covered names among neoclouds and their supporting companies, at least for now, the analyst added.
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