Roth Capital upgraded Core Scientific (CORZ) to Buy from Neutral with a price target of $23.50, up from $17. The firm now assumes the company’s takeover by CoreWeave (CRWV) does not go through amid increasing activity and commentary around voting against the deal. CoreWeave called its bid “best and final,” and the fixed-ratio spread has inverted, the analyst tells investors in a research note. Roth upgraded Core Scientific after pivoting to a standalone model that assumes the company leases its power pipeline primarily for high performance compute.
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