UBS started coverage of CoreWeave (CRWV), an AI-dedicated cloud infrastructure company, on September 23, with a Buy recommendation and a $120 price target—implying upside of about 38.3% versus the prior closing price of $86.76. UBS analyst Carl Kierstead pointed to signs of strong AI demand as well as the growth momentum of the leading AI research labs, suggesting that investors may turn back to AI-related stocks despite headwinds weighing on sentiment in the short term. The stock is also trading at an attractive valuation, at roughly three times estimated 2027 revenue, compared with higher multiples for its peers.
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