Investing.com - Lucid Capital Markets initiated coverage on Core Scientific Inc. (NASDAQ:CORZ) with a Buy rating and a price target of $40.00, according to a research note published Thursday. The stock currently trades at $27.22, having delivered a remarkable 124% return over the past year. The analyst community maintains a Strong Buy consensus on the shares, with price targets ranging from $25 to $55.
The firm highlighted Core Scientific’s position as the first Bitcoin-to-HPC converter and noted the company’s landmark lease with CRWV set the foundation for its business model.
Lucid Capital Markets stated that Core Scientific has cash to support the equity stub for approximately 1GW of CITL across existing and pipeline sites. The firm estimates CRWV is worth approximately $13.26 per share on a net basis, while Hunt County adds approximately $6.21.
The analyst firm believes a near-term lease for Hunt County would break Core Scientific free of a single tenant. The firm expects a second lease would add credibility and diversification while de-risking future builds.
Lucid Capital Markets suggested the current valuation underprices Core Scientific’s approximately 850+MW pipeline. Yet InvestingPro data indicates the stock may be overvalued relative to its Fair Value, placing it among potentially overvalued equities. Investors should note the stock’s high volatility profile. For deeper analysis, Core Scientific is among the 1,400+ US equities covered by comprehensive Pro Research Reports, available on InvestingPro.
In other recent news, Core Scientific reported its Q1 2026 earnings, revealing a mixed financial performance. The company posted a loss with an earnings per share (EPS) of -1.06 USD, while revenue reached 115.24 million USD. This reflects the company’s ongoing transition from Bitcoin mining to colocation infrastructure. In addition, BTIG raised its price target on Core Scientific to 33 USD from 23 USD, maintaining a Buy rating. This adjustment follows the company’s expansion of approximately 1.2 gigawatts of approved power capacity, including a new 430-megawatt site in Hunt County, Texas. Furthermore, Core Scientific held its 2026 Annual Meeting of Stockholders, where five individuals were elected to the board to serve until the 2027 Annual Meeting. Additionally, Steve Smith was appointed to the board of directors and will serve on the Nominating and Corporate Governance Committee. Smith brings over 35 years of experience in the data center and technology sectors.
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