Core Scientific price target raised to $11 from $5 at H.C. Wainwright

H.C. Wainwright analyst Kevin Dede raised the firm’s price target on Core Scientific to $11 from $5 and keeps a Buy rating on the shares. The company on June 3 announced 200MW hosting expansion for the CoreWeave high-performance computing contract that extends to 12 years and could yield cumulative revenue of $3.5B, the analyst tells investors in a research note. The firm says scale, diverse locations, and tenured experience, especially in the development of high-tier data centers, “squarely place Core in the range of solid operators.”