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.

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 as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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