PANews reported on November 1st that, according to Coindesk, following the collapse of the merger deal between Nasdaq-listed Bitcoin mining company CoreWeave (CRWV), investment bank Macquarie upgraded Core Scientific (CORZ) from "neutral" to "outperform" and raised its target price by nearly 90%, from $18 to $34. Core Scientific's stock price rose 4.5% in early trading to around $21.7. In their report, analysts Paul Golding and Marni Lysaght wrote that the merger's failure was not surprising, given previous reports and proxy suggestions indicating shareholder opposition to the merger between Core Scientific and CoreWeave. The bank's analysts view this outcome as a positive one, enabling Core Scientific to more flexibly lease its near-term power capacity to AI tenants.PANews reported on November 1st that, according to Coindesk, following the collapse of the merger deal between Nasdaq-listed Bitcoin mining company CoreWeave (CRWV), investment bank Macquarie upgraded Core Scientific (CORZ) from "neutral" to "outperform" and raised its target price by nearly 90%, from $18 to $34. Core Scientific's stock price rose 4.5% in early trading to around $21.7. In their report, analysts Paul Golding and Marni Lysaght wrote that the merger's failure was not surprising, given previous reports and proxy suggestions indicating shareholder opposition to the merger between Core Scientific and CoreWeave. The bank's analysts view this outcome as a positive one, enabling Core Scientific to more flexibly lease its near-term power capacity to AI tenants.
Investment bank Macquarie upgraded its rating on mining company Core Scientific, sending its share price up by 90%.
PANews reported on November 1st that, according to Coindesk, following the collapse of the merger deal between Nasdaq-listed Bitcoin mining company CoreWeave (CRWV), investment bank Macquarie upgraded Core Scientific (CORZ) from "neutral" to "outperform" and raised its target price by nearly 90%, from $18 to $34. Core Scientific's stock price rose 4.5% in early trading to around $21.7.
In their report, analysts Paul Golding and Marni Lysaght wrote that the merger's failure was not surprising, given previous reports and proxy suggestions indicating shareholder opposition to the merger between Core Scientific and CoreWeave. The bank's analysts view this outcome as a positive one, enabling Core Scientific to more flexibly lease its near-term power capacity to AI tenants.
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