B. Riley cuts target for IREN stock from USD 96 to USD 91

Published on 10/07/2026 at 01:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

IREN's sites total 810 MW operational and 2,100 MW under construction. IREN stock had a EUR 36.73 prior close on October 5, 2026.

IREN, AU0000185993, Illustration mit AI erstellt.

IREN Limited (AU0000185993) had a prior close of EUR 36.73 at Lang & Schwarz on October 5, 2026. The latest analyst action was cautious: B. Riley cut its price target while keeping a buy rating.

B. Riley lowers its target

According to Aktiencheck on September 30, 2026, B. Riley Securities reduced its IREN target from USD 96.00 to USD 91.00. The analysis itself was dated September 29, 2026, and retained the buy rating.

The cut puts financing and execution alongside demand in the valuation debate. B. Riley cited a 34.00 percent decline across crypto-mining and high-performance-computing companies since June 22, compared with a 6.20 percent decline for the Russell 2000.

AI capacity keeps expanding

IREN's own website lists 810 MW of operational data-center capacity and 2,100 MW under construction. It also lists 1,600 MW in development, six locations across North America and more than 4.50 GW of secured power, according to IREN.

That capacity gives the company a measurable operating base as it shifts from bitcoin mining toward AI cloud services. The construction pipeline is 2.59 times the operational capacity, making delivery milestones financially important for the valuation.

Capital remains the key test

IREN's AI expansion also carries a large funding requirement. B. Riley's September analysis linked the valuation pressure to higher borrowing costs, regulatory uncertainty and slower leasing activity across the sector.

For investors, the central comparison is between physical capacity and the cost of bringing it online. A lower target alongside a retained buy rating signals that B. Riley still sees long-term potential, but assigns less value to the near-term execution path.

IREN stock stays below its yearly high

IREN stock's Nasdaq 52-week range was USD 28.93 to USD 76.87 on October 6, 2026, while its market capitalization was USD 14.7 billion. The prior close of EUR 36.73 at Lang & Schwarz on October 5, 2026 matched the preceding close, so the dormant quote carried no valid daily percentage change.

The further course of trading is shown by the continuously updated real-time quote of IREN stock.