B. Riley Securities Raises PT to $29, Maintains Buy Rating on IREN

B. Riley Securities Raises PT to $29, Maintains Buy Rating on IREN

B. Riley Securities has raised its price target on IREN Limited (NASDAQ: IREN) to $29, while maintaining a Buy rating. The investment firm's latest analysis underscores the company's robust financial performance and strategic momentum, particularly in its AI Cloud and Bitcoin mining segments. This update follows IREN's strong FY2025 earnings report, where revenue surged 168% to $501M, and net income reversed a $28.9M loss to $86.9M [1].

The company's AI Cloud segment is projected to generate $200–255M in revenue by year-end, driven by high demand for AI computing power. IREN's strategic partnerships, including securing $96M in financing for NVIDIA GPUs and achieving Preferred Partner status with the chipmaker, further solidify its competitive edge [1]. The Horizon 1 and Sweetwater 1 data centers, along with 2,910MW of contracted power, position IREN for scalable expansion despite a slight Q4 revenue miss [1].

Analysts have taken note of IREN's potential, with 12 analysts maintaining a "Buy" consensus rating, and an average price target of $17.78. Despite a revenue miss in Q4 2025, the company's profitability and strategic investments suggest a compelling risk-reward profile. Investors should monitor IREN's ability to meet its GPU expansion targets and the timing of new data center deployments, which could further accelerate revenue streams [1].

References:
[1] https://www.globenewswire.com/news-release/2025/08/28/3141101/0/en/IREN-Reports-Full-Year-FY25-Results.html