Core Scientific price target raised to $18 from $17 at Compass Point

Compass Point raised the firm’s price target on Core Scientific to $18 from $17 and keeps a Buy rating on the shares after the company reported results in-line with the firm’s estimates with solid hash all-in hash costs that equate to about 0.043 relative to other miners. The firm thinks that over time Core will be valued more like a traditional datacenter business at higher multiples as the company continues to execute on its strategy, though adds that it thinks at current all-time low hash prices that the mining business “also provides a free option on price of BTC prices 2H24/2025.”