Loop Capital starts CoreWeave at Buy., sees material P&L upside

As previously reported, Loop Capital initiated coverage of CoreWeave (CRWV) with a Buy rating and $165 price target. The firm sees ongoing potential for material profitability upside relative to the Street and ultimately an enterprise value to expected EBITDA multiple expansion, the analyst tells investors in a research note. CoreWeave is the largest of a handful of “Neoclouds” that are in real-time being invited into a “Cool Kids Club” by Nvidia (NVDA), the Hyperscalers, and major AI Labs, the firm added.