Cantor Fitzgerald has raised its price target for IREN to $100, up from $49, indicating a potential 56% upside from its last closing price of $64.14. Analyst Brett Knoblauch highlighted IREN's strategic pivot to AI cloud services, noting that the company trades at a 75% discount to its peers on a contracted megawatt basis. This valuation gap is expected to close over time. IREN's stock has already seen a remarkable 513% increase this year, rising from just above $10.