-- Iren (IREN) said Tuesday it has agreed to buy cloud infrastructure provider Mirantis for approximately $625 million in stock.
Mirantis will operate as a standalone unit to support artificial intelligence cloud deployments while serving its current customer base, the company said.
The acquisition remains subject to standard regulatory approvals and customary closing conditions, Iren said.
Price: $50.19, Change: $+0.70, Percent Change: +1.42%
Stifel Canada on Tuesday upgraded its rating on the shares of Dollarama (DOL.TO) to buy from hold while raising its price target to C$190.00 from C$180.00 following a dip in the company's shares."Dollarama's shares are near a 52-week low, which presents investors with an appealing entry point in our view. We are changing our recommendation to BUY for the following reasons: (1) Valuation has receded from the highs of 39x forward earnings in January 2026 and now at 29.5x, stands below the 2-year average of 33x. (2) Dollarama is likely to gain market share under a potential scenario of significant inflation in the coming year stemming from the conflict in Iran. In order to stretch their dollars further Canadians are likely to shop more at Dollarama. (3) Recent insider buying is reassuring. Both the CFO and CEO recently purchased shares at $174 and $175, respectively, higher levels than currently. Hence, with a more reasonable valuation and potential for Dollarama to gain market share due to inflationary pressures, we change our rating to BUY and increase our target price by $10 to $190," analyst Martin Landry wrote.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $172.75, Change: $+2.26, Percent Change: +1.33%
ServiceNow (NOW) is well-positioned for sustained long-term growth, supported by its expanding role in artificial intelligence, RBC Capital Markets said in a Tuesday note following the company's 2026 Financial Analyst Day.The analyst said it is a buyer of ServiceNow following a positive event, citing management's projection of $30 billion to $32 billion in subscription revenue by 2030 and AI accounting for about 30% of annual contract value.RBC also highlighted expectations for sustained double-digit revenue growth, a "rule of 60%+" framework combining growth and free cash flow margins by 2030, along with ongoing margin expansion driven by strong gross margins and operating efficiency.The firm also pointed to non-seat-based monetization, hybrid pricing, and growth in areas such as security, CRM, and data and analytics as key long-term drivers, while downplaying concerns that DIY approaches and "vibe coding" could materially weaken demand.ServiceNow's shift toward non-seat-based revenue models, expansion into AI-driven product segments, and focus on organic growth are key factors supporting long-term compounding potential, while the firm views valuation as attractive despite the stock remaining a "show-me" story.RBC has an outperform rating on the stock with a price target of $121.Shares of ServiceNow were down 0.3% in Tuesday trading.Price: $91.52, Change: $-0.45, Percent Change: -0.49%
Pinterest's (PINS) GPU investment and proprietary model improvement commentary is the "most intriguing" platform enhancement opportunity in some time for the stock as it could unlock engagement and targeting, RBC Capital Markets said in a Monday research report.A "better-than-feared" Q1 print came amid diminishing headwinds from large clients due to conversion improvements, Performance Plus accounting for 30% of lower funnel revenue, and the potential easing of headwinds in H2 from infrastructure investments and acquisitions, analysts wrote.The Q1 revenue beat was partly driven by surprising performance from the largest retail advertisers as AI-powered platform improvements started offsetting headwinds later in the quarter, the brokerage stated.The company expects global growth in Q2 to be moderated by deliberate management and organizational changes to the international go-to-market structure, as well as high cross-border spend following US tariffs, according to the note.The brokerage reiterated its sector perform rating on the stock and boosted its price target to $23 from $17.Price: $23.26, Change: $+2.41, Percent Change: +11.56%