Bernstein Raises the PT on Core Scientific (CORZ), Assigns a Buy Rating

Company Overview - Core Scientific, Inc. (NASDAQ:CORZ) is recognized as one of the best mid-cap tech stocks to buy according to analysts [1] - The company provides digital infrastructure for high-density colocation and digital asset mining [4] Analyst Ratings and Price Targets - Gautam Chhugani from Bernstein raised the price target on Core Scientific from $17 to $24 and assigned a Buy rating [1] - George Sutton from Craig-Hallum upgraded the stock from Hold to Buy with a price target of $27 following the company's announcement regarding the termination of its merger agreement with CoreWeave [3] Merger and Acquisition Activity - Core Scientific has rejected CoreWeave's all-cash buyout offer for the second time, with shareholders voting against the merger proposal [4] - Analyst Gil Luria from D.A. Davidson commented that shareholders believe their value should be higher based on current valuations of comparable companies, indicating a perception of inflated AI trade values rather than actual economic value [4] Industry Context - Data centers face significant challenges in building AI systems due to high electricity demands, and bitcoin miners are becoming integral to the AI value chain by providing energy-powered spaces for AI data centers [2] - US bitcoin mining companies are focusing on extracting more value from their energy resources in addition to mining bitcoins [2]