Two five-star analysts defy Wall Street consensus with bullish $75–$100 targets, citing IREN’s GPU cloud push and energy capacity advantage
Analysts Break from Wall Street Consensus on IREN
IREN Limited (IREN), a former bitcoin mining firm turned AI infrastructure player, received major endorsements Tuesday from two five-star analysts, who issued price target increases of over 100%, dramatically exceeding the Street’s average.
- Brett Knoblauch of Cantor Fitzgerald raised his target from $49 to $100 (+104%)
- Gregory Lewis of BTIG lifted his target from $32 to $75 (+134%)
Both reiterated bullish ratings (Overweight/Buy), directly challenging Wall Street’s current “Moderate Buy” consensus on the stock.
AI Cloud Pivot Powers Bullish Outlook
The dramatic upgrades stem from IREN’s aggressive pivot into the AI cloud infrastructure market, fueled by surging demand for GPU-powered compute.
- Knoblauch noted IREN is “heavily leaning into AI,” with a strategy similar to CoreWeave, a key GPU cloud player.
- IREN was recently admitted to Nvidia’s Preferred Partner Program, and is expected to receive 9,000 Blackwell GPUs, a major boost for its cloud ambitions.
“IREN has what it takes to become one of the biggest providers of compute in the world,” Knoblauch said.
IREN Valued at a Discount vs. Neocloud Peers
IREN is currently trading at what analysts say is a ~75% discount compared to its AI-native cloud peers (neocloud firms), when measured by megawatts of secured power capacity.
- Neocloud companies, like CoreWeave, focus on high-density GPU infrastructure for AI and machine learning workloads.
- Despite trailing in revenue backlog, analysts expect this gap to narrow, prompting a re-rating of IREN’s valuation.
“We see the discount closing over time,” Knoblauch noted, forecasting material upside as the market adjusts.
Momentum Builds but Wall Street Remains Cautious
While these analysts are bullish, broader Wall Street sentiment is more restrained:
- Consensus Rating: Moderate Buy
- Average Price Target: $52.63, suggesting 19% downside from current levels
This disconnect reflects concerns over execution, and whether IREN can fully transform from a crypto-focused miner to a reliable AI infrastructure provider.
Yet, the company’s recent moves — cloud pivot, partnerships with Nvidia, and scaling GPU infrastructure — suggest a serious shift in business strategy that could attract further institutional interest.
IREN stock received bold upgrades from two top analysts, who raised price targets by over 100%, citing its AI cloud pivot, Nvidia partnership, and power capacity edge. Despite Wall Street’s Moderate Buy consensus, these analysts see IREN trading at a discount to AI peers, with room for significant upside.