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Jefferies forecasts 36% upside for AI-focused Iren at $79

6/19/2026

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Summary

Story summary

Jefferies set a $79 price target for Iren Inc., implying a 36% upside.
Analyst Jonathan Petersen said Iren has a unique AI position with a 6 GW land bank and integrated GPU cloud.
Iren’s contracts with Microsoft and Nvidia generate $3.1 billion in annual recurring revenue.
After its shares rose about 493% in 12 months, ten of 15 analysts rated it buy or strong-buy.

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Story summary

Jefferies set a $79 price target for Iren Inc., implying a 36% upside.
Analyst Jonathan Petersen said Iren has a unique AI position with a 6 GW land bank and integrated GPU cloud.
Iren’s contracts with Microsoft and Nvidia generate $3.1 billion in annual recurring revenue.
After its shares rose about 493% in 12 months, ten of 15 analysts rated it buy or strong-buy.