Core Scientific Inc. (CORZ) PT Raised to $11 at H.C. Wainwright

H.C. Wainwright analyst Kevin Dede raised the price target on Core Scientific Inc. (NASDAQ: CORZ) to $11.00 (from $5.00) while maintaining a Buy rating.

The analyst commented: "Core Scientific's June 3 announced 200MW hosting expansion for the CoreWeave high-performance computing contract that extends to 12 years and could yield cumulative revenue of $3.5 billion expands the original, Austin, TX, 16MW hosting deal is old news at this juncture, but sets the stage for raising our price target on estimate changes that have more to do with the understanding investors are gaining about the coincident operation of high-performance compute and bitcoin mining at the data center level than the specifics of this deal itself. Scale, diverse locations, and tenured experience, especially in the development of high-tier data centers, we think squarely place Core in the range of solid operators, and we reiterate our Buy rating while raising our price target to $11 from our previous $5."

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