11 Best Mid Cap Tech Stocks to Buy According to Analysts

Page 2 of 10

​9. Core Scientific, Inc. (NASDAQ:CORZ)

Market Capitalization: $6.26 billion 

Number of Hedge Fund Holders: 78

Analyst Upside Potential: 33.73%

​Core Scientific, Inc. (NASDAQ:CORZ) is one of the Best Mid Cap Tech Stocks to Buy According to Analysts. On November 3, Gautam Chhugani from Bernstein raised the firm’s price target on Core Scientific, Inc. (NASDAQ:CORZ) from $17 to $24 and assigning a Buy rating.

​Data centers are a major challenge for building AI systems due to their inherent high electricity demands. Chhugani noted that bitcoin miners are becoming an integral part of the AI value chain as they can offer ready-to-use, energy-powered spaces sufficient to power AI data centers. As a result, US bitcoin mining companies are now focusing on extracting more value from their energy resources in addition to mining more bitcoins.

Alongside Chhugani’s bullish outlook, several Wall Street analysts remain positive on Core Scientific, Inc. (NASDAQ:CORZ). For instance, on October 31, George Sutton from Craig-Hallum upgraded the stock from Hold to Buy and assigned a $27 price target. The upgrade follows the company’s announcement on October 30, noting the termination of its merger agreement with CoreWeave. Management noted that shareholders voted against the proposal to end months-long merger campaigns and discussions.

​This is the second time Core Scientific, Inc. (NASDAQ:CORZ) has rejected CoreWeave’s attempt to buy the company in an all-cash buyout offer. Reuters cited D.A. Davidson analyst Gil Luria commenting on the terminated merger, saying,

“(Shareholders) believe their value should be higher based on current valuations of comparable companies, which we see as more a sign of AI trade froth than actual economic value.”

​Core Scientific, Inc. (NASDAQ:CORZ) provides digital infrastructure for high-density colocation and digital asset mining.

Page 2 of 10