IREN Limited (NASDAQ:IREN) is among the 12 Best Performing Stocks in the Last 3 Months. B. Riley raised its price target to $74 and reiterated a Buy rating on October 22. Cantor Fitzgerald also increased its price target to $100 on October 14, expecting growth in the AI Cloud Services segment.

Cantor Fitzgerald believes IREN Limited (NASDAQ:IREN) still has room to grow in its AI Cloud Services business. The company is trading at a 75% discount compared to neocloud companies on a contracted megawatt basis, which Cantor Fitzgerald expects to close over time, leading to a potential re-rating.

IREN Limited (NASDAQ:IREN) has a unique market position with access to land, power, capital, and data center expertise. Cantor Fitzgerald sees the company potentially becoming one of the largest providers of compute in the world. The company focuses on Bitcoin mining, high-performance computing solutions, and AI cloud services in Canada and the US.

While IREN Limited (NASDAQ:IREN) shows investment potential, some AI stocks may offer greater upside potential with less downside risk. For further insights on undervalued AI stocks, check out the free report on the best short-term AI stock.

Read more at Yahoo Finance: B. Riley and Cantor Fitzgerald Lift Price Targets on IREN