Craig-Hallum cuts Core Scientific stock price target on Texas permit concerns

Investing.com · 2026-11-06 14:50 UTC

Craig-Hallum cuts Core Scientific stock price target on Texas permit concerns

Investing.com - Craig-Hallum lowered its price target on Core Scientific Inc. (NASDAQ:CORZ) to $25 from $35 while maintaining a Buy rating on the stock. The stock has experienced significant volatility recently, dropping 14% over the past week to $11.89, according to InvestingPro data.

Analyst George Sutton noted that Core Scientific is currently seeking air permits in Texas, which he described as relatively low-risk permits likely determined by permit by rule. Those decisions may happen in December or soon thereafter under the current Abbott administration.

Sutton said moves in Texas are not made retroactively and that Republicans still control the state senate. He added that once permits are received, the financing process for the AMD build-out is expected to proceed quickly given a lack of AMD paper in the market.

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