IREN LIMITED CEDEAR EACH 44 REP is trading 3.2% up at $5.22 as investors react to a new 'Buy' rating from Jefferies and continued momentum from the company's strategic pivot into European AI infrastructure. - Jefferies initiated coverage today with a Buy rating and a $79 price target, causing shares to rise approximately 5% in premarket trading. - This comes as the company continues to benefit from its June 15, 2026, acquisition of Nostrum Group, securing 490 MW of power in Spain for AI data center development. - The acquisition marks IREN's strategic entry into the European AI infrastructure market.