Cantor Fitzgerald Upgrades IREN to "Overweight" with a Higher Price Target

Core Viewpoint - Cantor Fitzgerald upgraded NASDAQ:IREN to "Overweight" and raised the price target from $49 to $100, indicating strong confidence in the company's growth potential [1][6] Company Overview - IREN Ltd. is recognized as a key player in the AI infrastructure sector, focusing on industrial applications and securing multi-year contracts with major hyperscalers like Amazon, Microsoft, and Google [2][3][6] - The company's market capitalization is approximately $17.39 billion, reflecting its substantial presence in the market [4][6] Stock Performance - The stock is currently priced at $64.14, showing a 7.31% increase, which indicates investor confidence in its future [3] - IREN's stock has experienced significant movement, with a 52-week high of $70.05 and a low of $5.13, highlighting its volatility [4][5][6] - The stock fluctuated between a low of $61.79 and a high of $67.79 on the day of reporting, further emphasizing its volatility [5] Market Position - IREN is positioned as a top "AI Utility" pick alongside Nebius Group NV, due to its essential role in supporting AI infrastructure [2] - The ongoing demand for AI infrastructure is not speculative, as evidenced by IREN's secured contracts, ensuring a steady revenue stream and supporting growth [3]