IREN Cut to Neutral by CCB Int'l After $4B Revenue Goal Delay

On November 10, 2026, CCB Int'l lowered its rating on IREN from Outperform to Neutral. IREN recently reported strong growth in AI cloud revenue but delayed its goal of reaching more than $4 billion in annual recurring revenue until early 2027.

JPMorgan maintained an Overweight rating but reduced its price target. Cantor Fitzgerald also maintained an Overweight rating and significantly cut its price target.

IREN faces a potential $6 billion funding gap for its expansion plans. The analyst changes point to a more cautious outlook despite the company's potential.