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Benzinga
Benzinga
Business
Vaishali Prayag

IREN Shares Drop After JPMorgan Downgrade On Valuation Concerns

IREN JPMorgan Bitcoin IREN Limited
Firenze,,Italy,November,11,,2024:,Cryptocurrency,Trader,Holding,Bitcoin,In

Shares of IREN Limited (NASDAQ:IREN) are trading lower Monday following a downgrade from JPMorgan, which lowered its rating on the stock from Overweight to Neutral.

What To Know: The move comes despite the bank raising its price target from $12 to $16, citing improved bitcoin mining economics and progress at the company's Childress site.

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