JPM lifts CoreWeave PT on strong demand for AI compute capacity
CRWV•JPM raises CoreWeave price target
J.P. Morgan raises its price target on cloud infrastructure company CoreWeave CRWV.O to $110 from $105, implying a roughly 25% upside to the stock's last close.
The brokerage says it is "favorable on the demand outlook" for CRWV because recent pricing for computing deals, like those involving SpaceX, show a big gap between the supply and demand of AI computing power.
Margins remain the key watchpoint
"Despite our favorable outlook for the company, we envision execution to margins is the most critical watchpoint for investors and, in that regard, we see limited near-term catalysts" — brokerage.
Twenty-seven of 40 brokerages rate the stock "buy" or higher, 11 "hold" and two "sell" or lower; their median price target is $150, according to data compiled by LSEG.
As of the last close, the stock is up about 23% this year.
