CoreWeave Inc (NASDAQ:CRWV) is trading higher on Tuesday after Deutsche Bank upgraded the stock from Hold to Buy and lifted its price target from $100 to $140.
Deutsche Bank’s Upgrade Sparks Market Confidence
Analyst Brad Zelnick said the upgrade reflects growing confidence in CoreWeave's long‑term trajectory, especially after NVIDIA Corp (NASDAQ:NVDA) revealed an expanded $2 billion investment on Monday, CNBC reported.
That funding is expected to help CoreWeave accelerate its plan to build out 5 gigawatts of AI infrastructure by 2030, a move Zelnick believes further validates the company's technical edge. His new price target suggests significant upside from current levels.
Zelnick added that demand for AI compute continues to outpace new supply, and CoreWeave's strong GPU economics and asset quality make the stock more compelling at today's valuation.
He also noted that Nvidia's deeper involvement could increase the likelihood that CoreWeave's SUNK and Mission Control software becomes part of Nvidia's reference architectures, opening the door to a "sizeable, high‑margin" hybrid and multi‑cloud software opportunity.
With CoreWeave's valuation back “to very reasonable levels," Zelnick said he's taking a bullish stance ahead of the company's upcoming earnings report.
Adding to the positive sentiment, Mizuho's Gregg Moskowitz reiterated a Neutral rating but raised his price target from $92 to $100, which is likely contributing to the stock's upward momentum.
CoreWeave Trades Above Key Levels
CoreWeave is currently trading 29.7% above its 20-day simple moving average (SMA) and 8.1% above its 100-day SMA, demonstrating strong short-term strength. Over the past 12 months, shares have increased by 175.84% and are positioned closer to their 52-week highs than lows, indicating a robust long-term trend.
The RSI is at 61.57, which is considered neutral territory, while the MACD is above its signal line, indicating bullish momentum. This combination suggests that the stock is not overbought and is showing signs of strength.
CRWV Price Action: CoreWeave shares were up 13.21% at $111.30 at the time of publication on Tuesday, according to Benzinga Pro.
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