Jefferies analyst Jonathan Petersen initiated coverage of Core Scientific with a Buy rating and $19 price target. The company’s journey over the past year “represents an impressive post-bankruptcy comeback story” as it leverages its significant access to power to build artificial intelligence-focused data centers, the analyst tells investors in a research note. The firm believes Core Scientific deserves credit for an experienced data center development team “that is capable and prepared for this pivot.” The company is uniquely well positioned to “capture this moment of AI demand,” contends Jefferies.