Three Firms Cut IREN Price Targets After AI Cloud Revenue Jumps

Cantor Fitzgerald, Macquarie and HC Wainwright lowered their price targets for IREN after its AI Cloud revenue jumped, extending a series of analyst revisions following the company’s latest quarterly results. Cantor Fitzgerald cut its target to $47 from $99 and kept an Overweight rating. Macquarie lowered its target to $55 from $90 while retaining Outperform. HC Wainwright reduced its target to $56 from $74 and maintained Buy. Cantor Fitzgerald also lowered its estimate for IREN’s 2028 adjusted earnings before interest, taxes, depreciation and amortization, along with the valuation multiple used to set its target. The three firms’ new targets follow Goldman Sachs’ Nov. 6 cut to $30 from $50 . Goldman Sachs kept a Neutral rating.

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