BTIG Upgrades Core Scientific Inc. (CORZ) amid Undervaluation Concerns and HPC Colocation Contracts Expectations

Core Scientific Inc. (NASDAQ:CORZ) is one of the best cryptocurrency and blockchain stocks to buy now. On January 6, BTIG upgraded Core Scientific Inc. (NASDAQ:CORZ) to a Buy from a Neutral and maintained a $23 price target.

The upgrade comes as the stock has underperformed its peers that have significant exposure to artificial intelligence computing contracts. Consequently, the stock is trading at a discount, down about 30% over the past two months compared to its peers. The undervaluation aligns with the company’s $4 million per megawatt valuation, which is well below the $7 million per megawatt of companies with high-performance computing contracts.

BTIG expects the company to hit the ground running in 2026 on securing additional high-performance computing colocation contractions. It also hopes to acquire incremental power capacity as it builds an infrastructure portfolio supported by strong demand for computing power infrastructure.

Earlier, on December 18, Citizens upgraded the stock to Market Outperform and set a $30 price target, impressed by the company’s robust growth prospects. According to the research firm, the company boasts a solid power pipeline that provides a solid foundation for additional high-performance computing agreements.

Core Scientific Inc. (NASDAQ:CORZ) builds and operates large-scale data centers, historically focused on Bitcoin mining but rapidly shifting to provide high-density infrastructure for Artificial Intelligence (AI) and high-performance computing (HPC) workloads, and offers power, cooling, and specialized hosting services to third-party clients.

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.

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