Core Scientific Inc. (NASDAQ:CORZ) is one of the 10 oversold NASDAQ stocks to invest in right now.
On June 25, BTIG increased the target price on Core Scientific Inc. (NYSE:CORZ) from $33 to $38, yielding an adjusted upside potential of over 77%
The firm upheld its Buy rating on the stock. According to the firm, rapid power consumption in data centers showed no sign of slowing, as the early stages of a worldwide data center buildout persisted during the second quarter. Over the coming years, BTIG believes that businesses with quick access to power will have endless possibilities to land AI colocation contracts.
With five high-performance computing infrastructure contracts signed by the public firms it tracks in the second quarter, it raised pricing targets throughout the data center infrastructure group, claiming that demand for quick power assets is growing stronger. Back on June 12, Lucid Capital reinitiated its coverage on Core Scientific Inc. (NYSE:CORZ) with a target price of $40, resulting in an upside potential of almost 87%. The firm also assigned a Buy rating to the stock, making reference to the company’s “second act”, which is a testament to its modular HPC platform.