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JPMorgan raised its price target on IREN (IREN) stock to $46 from $39 while keeping an Underweight rating, citing concerns that the $3.4B five-year NVIDIA (NVDA) contract features circular economics and undefined GPU access guarantees despite IREN’s 720% one-year stock surge and forward P/E of 63x.
IREN’s transformation into an AI cloud provider depends on securing NVIDIA’s advanced chips in volume to meet its 150,000 GPU deployment target, but the partnership contract reportedly doesn’t lock in those allocations, creating structural risk to the company’s $3.7B revenue guidance.
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JPMorgan Chase (NYSE:JPM) raised its price target on Iren (NASDAQ:IREN) stock to $46 from $39 while keeping an Underweight rating. The unusual combination, a price target raise paired with a bearish stance, reflects the firm’s skepticism about the structure of Iren’s blockbuster NVIDIA (NASDAQ:NVDA) partnership.
For prudent IREN stock investors, the call is a reminder that bullish narratives and durable economics aren’t always the same thing. The split signal — higher target, unchanged caution — captures the tension between Iren’s growth optionality and the structural questions hanging over its NVIDIA deal.
Link: https://finance.yahoo.com/markets/stocks/articles/jpmorgan-hikes-iren-price-target-151340403.html