Goldman Sachs initiated coverage of Iren (IREN) with a Neutral rating and $39 price target The firm says Iren is an artificial intelligence cloud that is in “hyper growth,” scaling from $501M revenue in fiscal 2025 to $3.8B in 2028. However, the stock’s valuation is “relatively full,” the analyst tells investors in a research note. Goldman believes Iren should deliver outsized growth over the next several years as the Microsoft deal scales, but it views the company’s growth beyond that as more uncertain.
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