Core Scientific (CORZ) Gets 7.3% Boost from 'Buy' Reco

We recently published 10 Firms Stealing the Show on Wall Street. Core Scientific Inc. (NASDAQ:CORZ) is one of the best performers on Thursday.

Core Scientific snapped a four-day losing streak on Thursday, jumping 7.30 percent to close at $14.56 apiece as investors took heart from an investment firm’s “buy” recommendation for its stock.

In a market report, investment firm Citizens issued a $30 price target for Core Scientific Inc. (NASDAQ:CORZ) while raising its rating to “outperform” from “market perform” previously.

The price target marked a 106 percent upside potential from its latest closing price.

The upgrade reflected Citizens’ confidence in robust growth prospects for the company in 2026, saying that Core Scientific Inc.’s (NASDAQ:CORZ) pipeline provides a solid foundation to bag more high-performance computing (HPC) leasing agreements with customers other than CoreWeave.

Core Scientific Inc. (NASDAQ:CORZ) and CoreWeave were supposed to merge earlier this year, but later terminated the proposal after failing to secure the minimum number of votes necessary to approve the merger.

In the third quarter of the year, Core Scientific Inc. (NASDAQ:CORZ) trimmed its net loss by 68 percent to $146.66 million from $455 million in the same period last year.

Revenues also declined by 15 percent to $81.1 million from $95.4 million year-on-year.

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