CoreWeave price target raised to $58 from $46 at Morgan Stanley

Morgan Stanley analyst Keith Weiss raised the firm’s price target on CoreWeave (CRWV) to $58 from $46 and keeps an Equal Weight rating on the shares. CoreWeave’s first quarter out of the gate “gave new talking points to both the bulls and bears,” as the company responds to an “acceleration of customer to demand” with a faster pace of build out of their GenAI infrastructure, the analyst tells investors. While accelerated build-out enabled a large revenue beat in Q1, it also increases interest expense and capex expectations for FY25, pressuring near-term free cash flow, says the analyst, who calls CoreWeave “a solid (long-term) play on an emerging GPU economy.”