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.
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. provides digital asset mining services in the US through three segments: Digital Asset Self-Mining, Digital Asset Hosted Mining, and HPC Hosting.
CoreWeave Inc. operates a cloud platform that provides scaling, support, and acceleration for GenAI. It builds the infrastructure that supports compute workloads for enterprises.
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This article is originally published at Insider Monkey.
