Wall Street targets 120% upside for CoreWeave stock after $10 billion wipeout in a week

A Wall Street analyst sees significant recovery potential in CoreWeave (NASDAQ: CRWV) stock after the company lost $10.4 billion in market capitalization in a week. Goldman Sachs upgraded CoreWeave to ‘Buy’ from ‘Neutral’ on Monday, citing the technology company’s potential to generate stronger returns from its artificial intelligence (AI) infrastructure investments despite growing concerns about financing and demand. The banking giant cut its CoreWeave price target to $106 from $139 while upgrading its rating. The revised target implies approximately 120% upside from the stock’s press-time price of $61. The upgrade follows a 24% decline in CoreWeave shares over the five trading days preceding the analyst assessment. The stock has also fallen 43% since August 11, reflecting concerns about credit-market volatility and the financing required for its next phase of growth.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Finbold.