Melius Research analyst Ben Reitzes upgraded CoreWeave (CRWV) to Buy from Hold with a price target of $165, up from $128. The company is benefiting from accelerating cloud demand “both right now and well into the future,” the analyst tells investors in a research note. The firm says that as inferencing “explodes, CoreWeave stands to benefit massively.” CoreWeave is usually among the first to get Nvidia’s next-generation artificial intelligence systems, which positions it well to win a large amount of cloud demand over the long term, adds Melius. Wells Fargo also upgraded CoreWeave shares this morning. The stock in premarket trading is up 2% to $136.50.
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Read More on CRWV:
- CoreWeave upgraded to Buy from Hold at Melius Research
- Wells upgrades CoreWeave with demand ‘too strong to ignore’
- CoreWeave upgraded to Overweight from Equal Weight at Wells Fargo
- ‘Hold the Phone,’ Warns Trader on CoreWeave’s (CRWV) $9B CORZ Acquisition
- Bullish flow in CoreWeave Inc with shares up 6.12%