Core Scientific Maintained at Buy as Analyst Highlights Long-Term AMD-Funded Leasing Upside; $29 Price Target Reaffirmed
Complete. Here is the key summaryNeedham analyst John Todaro maintained a Buy rating on Core Scientific with a $29 price target, citing long-term AMD-backed leasing contracts as drivers for recurring revenue and strong unit economics. Bernstein also upheld a Buy rating with a $32 target. The analysts highlight the visibility of revenue from 15-year agreements and potential upside from AMD's exclusivity on additional capacity.
In a report released today, John Todaro from Needham maintained a Buy rating on Core Scientific Inc, with a price target of $29.00.
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COZX: an alternative to margin or options on CORZJohn Todaro has given his Buy rating due to a combination of factors tied to Core Scientific’s new long-term leasing arrangements. He views the 15-year, ~530 MW critical IT load contracts with AMD and a neo‑cloud customer, backed by AMD’s credit support, as creating highly visible, recurring revenue at attractive economics and reinforcing counterparty quality.
John Todaro’s rating is based on the strong unit economics and margin profile implied by the gross modified lease structure and the sizable expansion optionality. He highlights the potential upside from AMD’s exclusivity on an additional 1.925 GW of capacity and the company’s strategic build‑to‑meter approach, while noting that his $29 price target remains unchanged, reflecting confidence in the risk‑reward despite execution and supply chain dependencies.
In another report released on July 23, Bernstein also maintained a Buy rating on the stock with a $32.00 price target.