Cantor Fitzgerald raises Iris Energy price target to $100 from $49

Cantor Fitzgerald has raised its price target for Iris Energy (IREN) to $100 from $49, CoinDesk reported. The company is currently transitioning from a Bitcoin mining operator to an AI infrastructure provider. The financial services firm explained that Iris Energy's stock is trading at a discount of around 75% compared to its AI cloud peers. It added that if this valuation gap closes, the stock has the potential for an additional 56% upside.