Compass Point lowered its price target for IREN Ltd. (NASDAQ:IREN) from $105 to $85. The firm maintained its "Buy" rating on the data center and AI cloud infrastructure company. This decision reflects a revised outlook on the timing of IREN's capacity expansion.
Compass Point based the adjustment on a more measured ramp-up of the company's capacity. This ramp-up is expected in calendar year 2027, considering current market dynamics.
The update follows IREN's recent fiscal fourth-quarter 2026 earnings report. Other analysts, including H.C. Wainwright and Citizens, reiterated positive outlooks on the stock.