IREN stock slips as broker trims forecasts but keeps $80 target
IREN shares fell 0.5% to $52.61 Thursday after H.C. Wainwright cut near-term earnings forecasts but kept a Buy rating and $80 target. Bitcoin dropped 0.8%, pressuring crypto-linked stocks. IREN’s AI push includes a $9.7 billion Microsoft deal and a $5.8 billion Dell supply agreement, both tied to GPU data center expansion in Texas. Delays in execution could trigger penalties, according to recent filings.