Bernstein Raises Price Target on Core Scientific to $32

Core Scientific, Inc. (NASDAQ:CORZ) has seen its price target raised by Bernstein from $24 to $32, while maintaining an Outperform rating on the shares.

The update comes as the firm's valuation methodology now focuses on the company's AI infrastructure business rather than its bitcoin mining operations.

Bernstein noted that Core Scientific is reallocating power capacity away from bitcoin mining and toward AI infrastructure.