TLDR: Jefferies has increased its price target for Core Scientific (CORZ) to $22 from $16, driven by concerns that shareholders might reject the proposed merger with CoreWeave if CORZ’s stock performance remains subdued. This move aims to bolster shareholder confidence ahead of the critical vote.
On August 18, 2025, financial services firm Jefferies announced an upward revision of its price target for Core Scientific (NASDAQ: CORZ), a prominent player in the cryptocurrency mining and data center industry. The new target stands at $22 per share, a significant increase from the previous $16. This adjustment comes as Jefferies highlights potential challenges for Core Scientific’s proposed merger with CoreWeave, an AI infrastructure company. The firm’s analysis suggests that Core Scientific shareholders might vote against the acquisition if the company’s stock price does not reflect a more favorable valuation.
The decision to raise the price target underscores Jefferies’ view on Core Scientific’s underlying value, even as the company navigates a critical merger. The increased target aims to provide a more attractive valuation for CORZ shares, potentially influencing shareholder sentiment positively towards the CoreWeave deal. Core Scientific’s operations, particularly its data centers, are increasingly relevant to the burgeoning demand for artificial intelligence infrastructure.
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The broader market context on the same day also saw the launch of an “on-chain market for hourly Nvidia H100 GPU rentals” by Injective and Squaretower, further emphasizing the growing ecosystem around high-performance computing, which is crucial for AI development. This strategic move by Jefferies reflects a nuanced outlook, balancing the company’s intrinsic value with the complexities of its ongoing corporate actions and its position within the evolving digital infrastructure landscape.
