Core Scientific Faces Valuation Disconnect; PT Hiked to $22: Jefferies
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最新报道：Core Scientific (CORZ) posted Q2 2025 results with weaker revenue but beat adjusted EBITDA estimates, while investor focus remains on its proposed all-stock merger with AI cloud provider CoreWeave (CRWV). Jefferies notes the deal currently values CORZ shares at $12.35 based on CoreWeave's $99.97 price, below their $16-$23 fair value estimate. The bank suggests the valuation gap indicates market skepticism, proposing potential renegotiation with a higher exchange ratio of 0.16-0.20 or a collar provision to stabilize terms. Jefferies maintains a buy rating on CORZ, raising its price target to $22 from $16, as shares traded 1.8% higher at $14.40. The merger faces a shareholder vote in Q4.
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