B. Riley Raises IREN Stock Target to $88 Amid 52% Monthly Surge
B. Riley Securities has elevated its price target for IREN stock to $88, maintaining a buy rating after a 13.5% single-day rally. The energy company's shares now promise nearly 30% upside from current $67 levels, with a $1,000 investment potentially yielding $1,300.
May has proven transformative for IREN, boasting a 52% monthly gain fueled by its $1.6 billion Blackwell systems deal with Dell. The acquisition, featuring Nvidia's high-performance graphics technology, catalyzed Wednesday's double-digit surge that extended the stock's unprecedented bull run.
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