Analyst Expectations for Iris Energy's Future
Portfolio Pulse from Benzinga Insights
Iris Energy (NASDAQ:IREN) has received 9 analyst ratings in the past 3 months, with 4 bullish and 5 somewhat bullish, and no bearish ratings. The average 12-month price target for IREN is $9.28, with a high of $11.00 and a low of $6.50. This target is down 11.62% from the previous target of $10.50. Analyst ratings are derived from various sources including company calls, financial statements, and insider information, but are subject to human error.
November 22, 2023 | 1:00 pm
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POSITIVE IMPACT
Iris Energy has a majority of bullish and somewhat bullish ratings from analysts, with a decreased average price target of $9.28, suggesting a cautious optimism among analysts.
The predominance of bullish and somewhat bullish ratings indicates a positive sentiment among analysts, which could lead to short-term investor optimism and potential stock price increase. However, the decrease in the average price target may temper expectations, suggesting that while the outlook is positive, it may not be as strong as previously thought. The confidence level is high due to the clear analyst consensus, but not absolute due to the inherent uncertainty in analyst predictions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100