We recently published 10 Stocks Stealing Wall Street Spotlight. IREN Ltd. is one of the best-performing stocks on Monday.
IREN Ltd. snapped a three-day losing streak on Monday, jumping 14.74 percent to close at $48.49 apiece, as investors took heart from an investment firm’s higher price target for its stock.
In a market note on the same day, IREN Ltd. earned a new price target of $39 from JPMorgan, or a 39 percent jump from its previous fair value assessment of $28.
The new price, however, was 19 percent lower than its latest closing price.
Photo by ThisisEngineering on Unsplash
The revision reflected JPMorgan’s optimism for the overall high-performance computing (HPC) sector, having similarly upgraded IREN Ltd.’s counterparts, namely CleanSpark and Cipher Mining.
In other news, IREN Ltd. earlier this month received a higher price target of $70 from Canaccord Genuity, versus $42 previously.
Canaccord’s price target marked a 44 percent upside potential from IREN Ltd.’s latest closing price.
In other news, IREN Ltd. swung to a net income of $384.6 million in the first quarter of fiscal year 2026 from a $51.7 million net loss in the same period last year.
Revenues jumped by 355 percent to $240.3 million from $52.8 million year-on-year.
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This article is originally published at Insider Monkey.
