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Loop Capital Analyst Initiates Buy Rating on CoreWeave, Sees 36% Upside
Loop Capital Analyst Initiates Buy Rating on CoreWeave, Sees 36% Upside
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BTCCSquare news:
Loop Capital's top analyst Ananda Baruah has initiated a Buy rating on CoreWeave (CRWV) with a $165 price target, projecting 36% upside potential. The cloud computing firm's stock has surged 25% in the past month, bolstered by a $6.3 billion order from Nvidia.
Baruah anticipates material profit upside, citing CoreWeave's position as a leader among 'Neoclouds' favored by Nvidia, hyperscalers, and AI labs. The market underestimates the sustained innovation push from these players, with Nvidia's Blackwell platform ramp-up providing additional tailwinds.
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