Scientific core (Corz) The lower than expected income but have exceeded the estimates of the Ebitda adjusted in its results of the second quarter 2025. However, the main objective remains its fusion proposed with the supplier of Cloud Ai Coreweave (CRWV)Who is planned for a shareholder vote in the fourth quarter, the investment bank said in a research report on Monday.
At the current Coreweave price of $ 99.97, the All-Stock Office varies from core scientific actions to around $ 12.35, well below the estimated estimated value of Jefferies from $ 16 to 23.
The feeling of investors on the merger is directly linked to the price of Coreweave, according to the report. The agreed exchange ratio of 0.1235 results in a basic scientific value which fluctuates with the swings due to CRVW.
The report noted that if Coreweave was exchanged until $ 183 in June, the action closed below $ 100 on Friday, pushing the implicit basic scientific price under market levels. Corz himself ended the day at $ 14.13.
This disconnection suggests that some investors expect the agreement to fail, said Jefferies, arguing that Core Scientific assets and the cash flow potential justify a higher evaluation.
If Coreweave’s stock does not recover before the vote, Jefferies sees the place of renegotiation. A higher exchange ratio, potentially from 0.16 to 0.20, could reduce the implicit evaluation of Corz shares in the range from $ 16 to $ 23. A team provision could also stabilize the agreement against the new volatility.
The bank has a purchase rating on basic scientific actions. He increased his Corz course goal to $ 22, against $ 16 to reflect Coreweave acquisition. The shares were 1.8%higher, merchant about $ 14.40 at the time of publication.
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