BTIG analyst Gregory Lewis downgraded Core Scientific (CORZ) to Neutral from Buy with a $20 price target after CoreWeave (CRWV) announced an agreement to acquire Core Scientific in an all-stock transaction. The announcement was largely expected following initial media reports in late June that the two companies were engaging in merger talks, the analyst tells investors in a research note.
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Read More on CORZ:
- Core Scientific downgraded to Hold from Buy at Craig-Hallum
- Some Core Scientific investors disappointed by all-stock deal, says Jefferies
- CoreWeave selloff reflects price volatility risk, says Jefferies
- Core Scientific Inc and CRWV Merger: Cost Savings and Strategic Benefits Drive Buy Rating
- Barclays constructive on CoreWeave’s acquisition of Core Scientific