Stifel analyst Ruben Roy last night downgraded CoreWeave (CRWV) to Hold from Buy with a price target of $115, up from $75. While positive on the longer-term benefits from the company’s acquisition of Core Scientific (CORZ), it sees “key near-term overhangs” for CoreWeave to get through. The re-positioning of the company as a vertical data center provider changes the valuation structure, the analyst tells investors in a research note. As such, Stifel views the shares as fairly valued.
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