Core Scientific price target raised to $40 from $23.50 at Roth Capital

Roth Capital raised the firm’s price target on Core Scientific (CORZ) to $40 from $23.50 and keeps a Buy rating on the shares. Now that shareholders voted down the takeover by CoreWeave (CRWV), Core Scientific can resume its standalone path and restart talks with potential customers, the analyst tells investors in a research note. Roth sees near-term catalysts for the shares in customer announcements, financing, new sites, and existing power expansions. The firm believes Core Scientific is already in “fairly advanced” talks to firm power with feasibility studies completed and negotiations underway with utility providers.