CoreWeave Stock Jumps 6.5% as Goldman Upgrades Despite Cutting Price Target

CoreWeave (NASDAQ: CRWV) shares rose 6.53% to $65.40 in premarket trading Monday as of 8:46 a.m. ET, after Goldman Sachs upgraded the artificial intelligence infrastructure provider from Neutral to Buy, arguing that investors may be overestimating its future financing costs while undervaluing potential returns from its computing assets. Goldman Sachs analyst Gabriela Borges lowered her price target to $106 from $139 despite the upgrade. The revised target still represents approximately 62% upside from the premarket share price. CoreWeave closed Friday at $61.39, down 11.91% for the session, as rising borrowing costs and concerns about the financing of AI infrastructure weighed on the stock. Goldman Sachs estimated that the shares had fallen 24% over the previous five trading sessions and 43% since August 11, when the company reported its second-quarter earnings.

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