Lucid Capital Markets initiated coverage of Core Scientific (CORZ) with a Buy rating. The firm set a price target of $40.00. This target represents significant potential upside from current trading levels.
Analysts highlighted the company's transition from Bitcoin mining to high-performance computing (HPC) infrastructure. A landmark lease agreement serves as the foundation for this business model shift.
Lucid reports that the market currently undervalues Core Scientific’s pipeline of over 850MW. A potential lease for the Hunt County, Texas site would diversify the tenant base and reduce growth risks.
The company recently held its 2026 Annual Meeting of Stockholders. Shareholders elected five board members during the event. Core Scientific also appointed data center veteran Steve Smith to the board.