Core Scientific climbs as BTIG turns bullish following scrapped deal with CoreWeave

Core Scientific CORZ.O shares up 3.9% at $17.38 premarket after BTIG upgrades to 'buy' from 'neutral' in wake of its shareholders' rejection of CoreWeave's CRWV.O buyout offer

Brokerage sets CORZ PT at $23, implying ~37% upside to stock's last close

While CORZ was largely on the sidelines in 2H25 owing to merger plans with the AI-focused cloud provider, BTIG says it expects CORZ "to hit the ground running in 2026"

BTIG sees CORZ securing additional HPC (high-performance computing) colocation contracts as power infrastructure for compute remains strong and securing incremental power as it looks to build its power infrastructure portfolio

Base case is CORZ continues to execute on its delivery schedule for its contract with CRWV, with the 590MW contract operating at full scale in 2027, BTIG says

Through Mon close, CORZ shares up ~15% to start 2026. Stock about 27% below its record intraday high of $23.63 hit in early Nov

Now, 16 of 19 brokerages rate CORZ "strong buy" or "buy", rest "hold"; median PT is $25.50, according to data compiled by LSEG and Reuters