Citizens Upgrades Core Scientific (CORZ) as HPC Growth Outlook Strengthens

Core Viewpoint - Core Scientific, Inc. (NASDAQ:CORZ) has been upgraded to "Market Outperform" with a price target of $30, reflecting strong growth prospects in high-performance computing (HPC) [1][2]. Growth Prospects - The price target of $30 per share represents approximately 19 times the estimated 2027 EV/EBITDA, indicating robust growth potential for the company [2]. - Core Scientific's power pipeline is considered strong enough to secure additional HPC lease agreements beyond its previous deal with CoreWeave, positioning the company favorably in the data center landscape [2]. Market Position - Despite a failed merger with CoreWeave, analysts believe Core Scientific can negotiate more favorable contract terms as it engages with AI firms and other clients [3]. - Recent deals following the termination of the CoreWeave agreement suggest that value creation is increasingly favoring suppliers of data center capacity, with improved terms being observed in new contracts [3]. Company Transition - Core Scientific has transitioned into an AI-focused business by leveraging its advanced infrastructure and expertise in HPC [3].