Home / Business and Economy / IREN Stock Soars on Analyst Upgrade
IREN Stock Soars on Analyst Upgrade
25 Nov
Summary
- IREN stock surged 14.74 percent on Monday.
- JPMorgan raised its price target for IREN to $39.
- Company reported a net income of $384.6 million in Q1 FY26.
IREN Ltd. shares climbed 14.74 percent on Monday, concluding the trading day at $48.49. This upward movement followed a three-day downturn and was significantly influenced by an investment firm's revised price target. JPMorgan adjusted its valuation for IREN stock, setting a new price target of $39.
This revision by JPMorgan underscores a broader optimism regarding the high-performance computing sector, as the firm also upgraded similar companies. Earlier in the month, Canaccord Genuity had also issued a favorable price target revision for IREN, indicating sustained positive analyst sentiment.
Financially, IREN Ltd. demonstrated robust performance in the first quarter of fiscal year 2026. The company reported a net income of $384.6 million, a significant turnaround from a net loss of $51.7 million in the same period last year. Revenue also saw a dramatic increase of 355 percent year-over-year.
