---
title: "Iren surges after Jefferies initiates rating with bullish views"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/290207438.md"
description: "Jefferies initiated coverage of Iren with a Buy rating and $79 price target, citing its strategic pivot to AI infrastructure. The firm highlighted Iren's large land bank and key contracts with Microsoft ($9.7B) and Nvidia ($3.4B), positioning it as a competitor to CoreWeave. Shares surged 5% premarket on the bullish outlook."
datetime: "2026-06-18T13:33:38.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/290207438.md)
  - [en](https://longbridge.com/en/news/290207438.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/290207438.md)
generator: "portal-rs"
---

# Iren surges after Jefferies initiates rating with bullish views

Jefferies began coverage of Australian AI infrastructure solutions provider Iren (IREN) with a Buy rating and $79 price target. Shares of Iren surged about 5% premarket on Thursday. "IREN has positioned itself in a unique place among AI infrastructure providers with an extraordinarily large long-term powered land bank (~6 GW) and a vertically integ...

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**