Core Scientific, Inc. (CORZ) Upgraded to Buy: What Does It Mean for the Stock?

Core Scientific, Inc. Overview - Core Scientific, Inc. (CORZ) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive trend in earnings estimates which significantly influences stock prices [1][4] - The Zacks rating system focuses solely on a company's changing earnings picture, tracking the Zacks Consensus Estimate for EPS from sell-side analysts [2] Earnings Estimates and Stock Price Correlation - The correlation between changes in earnings estimates and stock price movements is strong, driven by institutional investors who adjust their valuations based on these estimates [5] - Rising earnings estimates for Core Scientific suggest an improvement in the company's underlying business, which could lead to higher stock prices as investors respond positively [6] Earnings Estimate Revisions - Core Scientific is projected to earn $1.29 per share for the fiscal year ending December 2025, with no year-over-year change expected [9] - Over the past three months, the Zacks Consensus Estimate for Core Scientific has increased by 371.4%, indicating a significant upward revision in earnings expectations [9] Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a proven track record of Zacks Rank 1 stocks generating an average annual return of +25% since 1988 [8] - The upgrade to Zacks Rank 2 places Core Scientific in the top 20% of Zacks-covered stocks, suggesting a strong potential for market-beating returns in the near term [11]