IREN Reports Full Year FY24 Results

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Go back to IREN Reports Full Year FY24 Results

Iris Energy Ltd. (IREN) PT Lowered to $20 at Cantor Fitzgerald

August 29, 2024 6:32 AM EDT

Cantor Fitzgerald analyst Brett Knoblauch lowered the price target on Iris Energy Ltd. (NASDAQ: IREN) to $20.00 (from $23.00) while maintaining a Overweight rating.

The analyst comments "Revenue was in line with our estimates, as was electricity cost, but higher opex (driven by the rapid expansion at Childress) resulted in adjusted EBITDA coming in below our expectations. Management reiterated they remain on track to meet... More