After 300% Stock Rally, Jefferies Says This Bitcoin Miner Has More Room To Run Up On AI Demand
Portfolio Pulse from Aniket Verma
Jefferies has initiated coverage of Core Scientific Inc. (NASDAQ:CORZ) with a 'Buy' rating, citing its potential to benefit from AI demand. The company has a 12-year contract with CoreWeave and has emerged from bankruptcy, with its stock up 312% this year. The Valkyrie Bitcoin Miners ETF (NASDAQ:WGMI) also saw gains.
October 29, 2024 | 7:32 am
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Jefferies has initiated coverage of Core Scientific with a 'Buy' rating and a $19 price target, highlighting its AI potential and recent 312% stock surge.
Jefferies' 'Buy' rating and $19 price target suggest confidence in Core Scientific's growth potential, especially with its AI focus and recent stock performance. The company's emergence from bankruptcy and strategic partnerships further bolster its outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
The Valkyrie Bitcoin Miners ETF saw a 10% surge, reflecting broader gains in the Bitcoin mining sector, influenced by Core Scientific's positive outlook.
The positive sentiment around Core Scientific and the Bitcoin mining sector has contributed to a 10% rise in the Valkyrie Bitcoin Miners ETF, indicating investor optimism in the sector.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50