Macquarie maintains Core Scientific at Outperform, lowers price target to $25 from $38

What happened

Macquarie kept its Outperform rating on Core Scientific but cut its price target to $25 from $38, a 34.2% reduction. The report says the new target implies 112.6% upside from the November 6 closing price of $11.76.

Confirmed

Global impact / market context

The lower target signals that Macquarie sees less potential value than before, even while retaining its positive rating. If investors respond to the reduced forecast, Core Scientific’s share price and its ability to raise money through stock sales could be affected, though no market reaction is reported.

Analyst inference

Five other analyst notes from the previous 30 days set Core Scientific targets between $28 and $38, all above Macquarie’s new $25 target. This makes Macquarie’s revision a comparatively cautious forecast, but the article gives no company results or reasons for the change.

Confirmed

What to watch

1. Check whether Macquarie explains the cut or updates its assumptions; the article gives no reason, so investors cannot tell which company costs, revenue, or risks drove it. Analyst inference
2. Compare future analyst targets with Macquarie’s $25 level and the reported $28–$38 range from five recent notes to see whether forecasts converge or diverge. Analyst inference
3. Watch for Core Scientific financial updates that could clarify whether revenue, costs, or cash available support the forecasts; none are provided in this article. Analyst inference

Evidence

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