JPMorgan Hikes IREN Price Target to $46 but Stays Underweight on Circular NVIDIA Deal Concerns
Key takeaways
- The analyst who called NVIDIA in 2010 just named his top 10 stocks and Iren wasn t one of them.
- JPMorgan Chase (NYSE:JPM) raised its price target on Iren (NASDAQ:IREN) stock to $46 from $39 while keeping an Underweight rating.
- For prudent IREN stock investors, the call is a reminder that bullish narratives and durable economics aren t always the same thing.
JPMorgan Hikes IREN Price Target to $46 but Stays Underweight on Circular NVIDIA Deal Concerns David Moadel Mon, May 11, 2026 at 10:13 PM GMT+7 4 min read IREN JPM CRWV BTC-USD NVDA Quick Read JPMorgan raised its price target on IREN (IREN) stock to $46 from $39 while keeping an Underweight rating, citing concerns that the $3.4B five-year NVIDIA (NVDA) contract features circular economics and undefined GPU access guarantees despite IREN’s 720% one-year stock surge and forward P/E of 63x.
IREN’s transformation into an AI cloud provider depends on securing NVIDIA’s advanced chips in volume to meet its 150,000 GPU deployment target, but the partnership contract reportedly doesn’t lock in those allocations, creating structural risk to the company’s $3.7B revenue guidance.
The analyst who called NVIDIA in 2010 just named his top 10 stocks and Iren wasn t one of them. Get them here FREE.