Movement Alert｜IREN Ltd Rises 5.17% Overnight, Analyst Target Price Upgrade and Oversold Recovery Drive Continued Rebound

Market Focus

Jun 15

On June 15, IREN Ltd rose 5.17% overnight, trading at $62.81/share, with turnover of $5.21 million.

On the news front, B.Riley recently raised its target price on IREN from $88 to $96 while maintaining a Buy rating, expressing optimism toward the company's AI computing power transformation prospects. Additionally, the CEO recently signaled further computing capacity expansion plans, reinforcing market confidence in the company's strategic pivot from cryptocurrency mining to AI cloud infrastructure.

IREN had previously declined sharply from its early June highs after completing a $3.65 billion investment-grade GPU financing, which triggered concerns over elevated financial leverage. The stock has since entered an oversold recovery channel. Fundamental catalysts including a $9.7 billion computing power agreement with Microsoft and up to $2.1 billion in investment from NVIDIA continue to provide underlying support for the share price. The current rebound extends the prior recovery trend as selling pressure dissipates.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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