Jefferies has flagged potential challenges in the proposed merger between Core Scientific (CORZ) and CoreWeave, citing valuation discrepancies and a potentially unfavorable response from investors. Their report suggests that if CoreWeave’s stock price remains stagnant or declines, shareholders might reject the deal. Jefferies revised CORZ’s target price upward to $22 to account for the merger’s expected impact. However, they also warned of potential renegotiation if CoreWeave’s stock price doesn’t rebound before the voting process begins. This could involve adjusting the exchange ratio or introducing a price protection mechanism. The current price of CORZ shares is $14.40, indicating a significant potential for growth against their target price.