Stock Track | Iris Energy Soars 5.58% as Analysts Initiate Coverage with Buy Rating

Stock Track12-12

Shares of Iris Energy Ltd (IREN) surged 5.58% in Thursday's pre-market trading session, outperforming the broader market.

The rally in IREN stock came after analysts at JonesResearch initiated coverage on the company with a Buy rating and set a price target of $22, implying significant upside potential from current levels.

Analysts are optimistic about Iris Energy's prospects, citing the company's strong position in the rapidly growing bitcoin mining industry. The positive coverage and bullish outlook from JonesResearch fueled investor confidence, driving the stock higher.

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