IREN Ltd. (IREN) Soars to Fresh High as Analyst Raises Price Target by 275%

Group 1 - IREN Ltd. shares reached an all-time high of $49.30, closing up 12.86% at $47.14 due to positive sentiment from an investment firm's bullish coverage [1] - Bernstein raised its price target for IREN Ltd. to $75, a 275% increase from the previous target of $20, while assigning an "outperform" rating [2] - IREN Ltd. is differentiating itself among Bitcoin miners by developing its own AI infrastructure, unlike competitors who are pursuing capital-light co-location deals with AI cloud companies [2] Group 2 - Compass Point also provided bullish coverage for IREN Ltd., giving it a "buy" recommendation as the company transitions to AI servicing and expands its cloud business [3] - The company is capitalizing on the growing demand for high-performance computing (HPC) services as part of its AI strategy [3]