Cantor Fitzgerald Raises Core Scientific (CORZ) PT to $26 on Potential CoreWeave Deal Rejection and Standalone HPC Value

Core Scientific Inc. (NASDAQ:CORZ) is one of the hot tech stocks to buy according to Wall Street analysts. On October 24, Cantor Fitzgerald analyst Brett Knoblauch raised the firm’s price target on Core Scientific to $26 from $18 and kept an Overweight rating on the shares. Knoblauch informed investors that, as shareholders prepare to vote on the proposed acquisition by CoreWeave Inc. (NASDAQ:CRWV), the firm sees two potential scenarios if the deal is voted down: either CoreWeave returns to the negotiation table or Core Scientific independently pursues the HPC path.

Cantor Fitzgerald Raises Core Scientific (CORZ) PT to $26 on Potential CoreWeave Deal Rejection and Standalone HPC Value

Knoblauch maintains that either outcome presents an attractive risk/reward profile for Core Scientific. Earlier on October 22, B. Riley upgraded Core Scientific to Buy from Neutral with a price target of $30, up from $17, as the firm sees a high likelihood that Core Scientific shareholders will vote down the pending takeover. The firm’s $30 price target reflects a standalone value for Core Scientific.

Core Scientific Inc. (NASDAQ:CORZ) provides digital asset mining services in the US through three segments: Digital Asset Self-Mining, Digital Asset Hosted Mining, and HPC Hosting.

CoreWeave Inc. (NASDAQ:CRWV) operates a cloud platform that provides scaling, support, and acceleration for GenAI. It builds the infrastructure that supports compute workloads for enterprises.

While we acknowledge the potential of CORZ to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CORZ and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.