Wall Street Analysts Believe IREN Limited (IREN) Could Rally 25.03%: Here's is How to Trade

Core Viewpoint - IREN Limited (IREN) has seen a 13.8% increase in share price over the past four weeks, closing at $16.58, with a potential upside of 25% based on Wall Street analysts' mean price target of $20.73 [1][9]. Price Targets - The average of 11 short-term price targets ranges from a low of $12.00 to a high of $26.00, with a standard deviation of $4.08, indicating variability in estimates [2]. - The lowest estimate suggests a decline of 27.6% from the current price, while the highest estimate indicates a potential upside of 56.8% [2]. Analyst Consensus and Earnings Estimates - Analysts have shown strong agreement in revising earnings per share (EPS) estimates higher, which is a positive indicator for potential stock upside [4][9]. - The Zacks Consensus Estimate for the current year has increased by 17.4% over the past month, with two estimates rising and no negative revisions [10]. Zacks Rank - IREN currently holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, suggesting a strong potential for upside [11]. Price Target Reliability - While consensus price targets are often sought after, they may not reliably indicate actual stock price movements, and investors should approach them with skepticism [5][8].