IREN Limited is transitioning from a crypto miner to an AI infrastructure powerhouse. Roth/MKM raised its price target from $35 to $82, suggesting the stock could double. IREN operates data centers powered by renewable energy, with a market cap of $13.72 billion. Shares surged 473% YTD due to AI focus.

IREN stock hit a 52-week high of $44.25 and continues to rise. The company purchased 12,400 GPUs to double its fleet, targeting an AI cloud run rate exceeding $500 million. IREN also diversified GPU cooling systems and reported strong Q4 fiscal 2025 results with significant revenue growth.

Looking ahead, IREN aims for a $1.25 billion revenue run rate, with a focus on AI cloud services and Bitcoin mining. Analysts predict significant EPS growth for fiscal 2026 and 2027. Roth/MKM raised its price target to $82, expecting strong GPU deployment and AI cloud revenue growth.

IREN stock has a “Moderate Buy” rating, with a Street-high target price of $82, indicating a 45% potential upside. Analysts are bullish on IREN’s future growth prospects in the AI and crypto space. The company’s bold expansion plans and strong financial performance have garnered investor confidence.

Read more at Yahoo Finance: This Crypto and AI Stock Just Got a Massive New Street-High Price Target That Implies Shares Could Double in the Next Year