CoreWeave shares closed approximately 9% higher on Tuesday. The stock continued to climb during early trading on Wednesday.
Truist Securities and Baird both issued bullish ratings for the company. Truist analyst Arvind Ramnani upgraded CoreWeave from Hold to Buy.
Ramnani set a price target of $126. He highlighted the company's leadership in the neocloud sector and noted the stock trades at a discount.
Baird analyst Robert Oliver initiated coverage with a Buy rating. Oliver established a $100 price target and described the firm as a pioneer in purpose-built AI infrastructure.