JPMorgan Hikes IREN Price Target to $46 but Stays Underweight on Circular NVIDIA Deal Concerns

JPMorgan Chase (NYSE:JPM) raised its price target on Iren (NASDAQ:IREN) stock to $46 from $39 while keeping an Underweight rating. The unusual combination, a price target raise paired with a bearish stance, reflects the firm’s skepticism about the structure of Iren’s blockbuster NVIDIA (NASDAQ:NVDA) partnership. For prudent IREN stock investors, the call is a reminder ... JPMorgan Hikes IREN Price Target to $46 but Stays Underweight on Circular NVIDIA Deal Concerns