Macquarie Reiterates Neutral on Core Scientific (CORZ), Sets $15 Price Target

Core Scientific, Inc. (NASDAQ:CORZ) is one of the Trending AI Stocks on Wall Street.  On August 19, Macquarie analyst Paul Golding reiterated a Neutral rating on the stock with a $15.00 price target. The firm remains neutral as it awaits clarity on shareholder vote, noting “recent CRWV share price weakness with lock-up expiry”

According to the research firm, the company’s revenue missed expectations for another quarter driven by the strategic wind-down of its Bitcoin mining operations. Nevertheless, its economics and high-performance computing (HPC) business still drove earnings beats.

The firm did highlight, however, that Core Scientific’s pending merger with CoreWeave still demands shareholder approval and regulatory clearances before completion.

“Similar to prior quarters, revs missed w/ strategic btc mining wind down. Economics and HPC drove earnings beats. • Merger with CoreWeave still pending CORZ shareholder approval, along with requisite regulatory approvals. • Neutral as we await clarity on shareholder vote, noting recent CRWV share price weakness with lock-up expiry.”

Core Scientific, Inc. (NASDAQ:CORZ) has transitioned into an AI business by leveraging advanced infrastructure and expertise in HPC (high-performance computing).

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