Macquarie cuts price targets on Core Scientific and IREN, keeps Outperform ratings
Macquarie kept Outperform ratings on Core Scientific and IREN while lowering targets to $25 from $38 and to $55 from $90. Source: TradingView, with data from Benzinga.
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what happened
According to TradingView, Macquarie maintained its Outperform rating on Core Scientific and cut its price target to $25 from $38, a decrease of 34.2%. The new target implies upside of 112.6% from the November 6 close of $11.76.
Macquarie also kept its Outperform rating on IREN and lowered the target to $55 from $90, a 38.9% reduction. The implied upside is 154.2% from the November 6 close of $21.64. Per Benzinga data, targets from other analysts over the past 30 days range from $28 to $38 for Core Scientific and from $40 to $64 for IREN.
why it matters
Both companies operate in bitcoin mining, so their revenue and margins depend heavily on the BTC price and electricity costs. The lower targets reflect the analyst's revised estimates rather than any change in the companies' operations, which the source does not describe. For investors, such notes offer a gauge of sentiment across the sector but do not by themselves alter the fundamental picture.
tags
instruments
sources
- Macquarie maintains Core Scientific at Outperform, lowers price target to $25 from $38 — TradingView, 7 November 2026 at 03:31 UTC
- Macquarie maintains IREN at Outperform, lowers price target to $55 from $90 — TradingView, 7 November 2026 at 03:29 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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