DA Davidson analyst Gil Luria downgraded CoreWeave (CRWV) to Neutral from Buy with a price target of $100, down from $175, after assuming coverage of the name. The firm is “optimistic” on the outlook for compute and believes CoreWeave has made itself a key participant. However, DA is “skeptical” of CoreWeave’s ability to generate sufficient returns given its margin profile and high dependence on debt financing.
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