IREN
New cover story, same stock debate
Rothschild Redburn has started coverage on IREN with a Neutral rating and a $40 price target. That’s not exactly a fireworks show, but it does give investors a fresh outside view on where the stock might be headed from here.
The juicy bit is the long game
The firm is modeling $13.3 billion in revenue by fiscal 2029. That’s the kind of number that makes investors sit up a little straighter, because it suggests IREN could be playing for a much bigger prize than the market may be pricing in today.
Why you should care
A new analyst initiation can matter even when the rating is lukewarm. It sets a new reference point for expectations, and the revenue forecast could become part of the bull-vs.-bear argument around the stock.
- Neutral means the analyst is basically saying “show me more.”
- The $40 target gives the market a fresh benchmark to trade around.
- The 2029 revenue forecast hints at a much larger business if execution goes right.
Big picture: IREN just got a new valuation storyline, and the street’s favorite game of “is this stock overhyped or early?” is back on.