IREN price target raised to $36 from $21 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on IREN (IREN) to $36 from $21 and keeps a Buy rating on the shares. The company reported record Q4 results and announced on the earnings call significant near-term expansion of its artificial intelligence cloud services business after procuring another 2,400 of Nvidia’s (NVDA) latest-generation graphics processing units, the analyst tells investors in a research note. IREN also secured Nvidia preferred partner status, which should help to enhance its access to new GPU’s, contends H.C. Wainwright. The firm views IREN as one of the most compelling growth stories in its coverage universe. It estimates the company’s total revenue will grow by over 150% year-over-year in fiscal 2026.