Core Scientific price target raised to $30 from $20 at Canaccord

Canaccord analyst Joseph Vafi raised the firm’s price target on Core Scientific (CORZ) to $30 from $20 and keeps a Buy rating on the shares. The firm said just a couple of quarters after its proposed merger with customer Coreweave (CRWV) was terminated, the company’s standalone growth strategy has done nothing but accelerate. Q1 was highlighted by solid progress across all three key areas of the business; what is now a ramping P&L from co-lo services provided to Coreweave; successful financings to fund further expansion, and efforts to materially increase the power portfolio both at existing and new sites to support longer term portfolio growth.

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