This article first appeared on GuruFocus. IREN Ltd. (NASDAQ:IREN) was upgraded to Overweight from Underweight by JPMorgan, which raised its price target to $65 from $46. The firm said IREN is establishing itself as a top tier neocloud provider on the back of its partnership with Nvidia (NASDAQ:NVDA), with customer signings gaining pace. IREN shares were down 3.83% intraday. Warning! GuruFocus has detected 5 Warning Signs with IREN. Is IREN fairly valued? Test your thesis with our free DCF calculator. Industry rates have moved up substantially from $10 to $15 per watt to $15 to $20 and higher, depending on delivery, GPU generation and contract length. JPMorgan expects IREN's roughly 0.
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