BofA downgrades CoreWeave to Neutral on valuation after 145% runup

As previously reported, BofA analyst Brad Sills downgraded CoreWeave (CRWV) to Neutral from Buy with a price target of $185, up from $76. Noting that the stock has run up 145% following Q1 results, the firm believes much of the near-term upside has been priced in. However, the firm raised its price target as it acknowledges there are positive developments including a new hyperscaler customer, an expansion of the company’s OpenAI agreement and a debt raise at lower cost of capital, the analyst tells investors.

Claim 30% Off TipRanks