Cantor Fitzgerald's Brett Knoblauch Thinks IREN Could Be a $384 Stock in Three Years

Cantor Fitzgerald analyst Brett Knoblauch predicts that IREN shares could rise to $384 by 2028, up from their current price of around $67. This forecast follows IREN's substantial $9.7 billion deal with Microsoft to enhance its AI data center capabilities. The deal positions IREN as a significant player in the AI infrastructure market, and the company now aims to escalate its annual revenue to $18.6 billion across its facilities in Texas and Canada. IREN has revised its 2026 annual recurring revenue guidance from $500 million to $3.4 billion after achieving expanded GPU capacity and increased cloud demand. Knoblauch highlighted the advantages of IREN's cloud strategy, which he believes provides better returns and capital support compared to traditional colocation. He also considers the infrastructure being developed to be resilient for future GPU advancements. Despite adjusting his near-term price target down from $142 to $136 due to lower bitcoin mining revenues, Knoblauch maintains an 'overweight' rating on IREN, making it a top investment choice amidst a broader market rally.

Source 🔗