AI Infrastructure Firm Coreweave’s (Coll) Deal to buy basic scientific (Corz) will raise the valuation floor for Bitcoin
Mining stocks but not likely to be replicated, Wall Street Bank JPMorgan said in a research report on Tuesday.
“Like the company First Deal in HPC As the Coreweave announced last summer, the terms and purchase prices appear to be a one-off, “analysts Reginald Smith and Charles Pearce wrote.
Coreweave said Monday that it has agreed to buy The main scientific in an all-stock transaction that values the Bitcoin Miner at about $ 20.40 per part, based on recent closure prices.
Bank analysts noted that the main scientific was closed around a 25% discount on the terms of the day’s dealings announced. Since the near end of the year, the analysts said it seemed appropriate.
B.Rilley downgraded core scientific from Buy To Neutral with a unchanged $ 17 target price, the broker said in a research report Wednesday.
The investment firm said its target price is considering the volatility of the coreweave sharing and the 6 months expected to be close for the deal.
Read more: Coreweave’s all-stock bid for the main scientific that is likely to draw a shareholder review: KBW
