Brokerages raise PT on Coreweave even as stock slides on heavy spending plan

Shares of Nvidia-backed CoreWeave CRWV.O slide 2.4% to $65.83 after co to spend up to $23 bln this year to tap AI demand boom

But, at least five brokerages raise PT after CRWV reports better-than-expected revenue in first quarterly report since March IPO

Barclays raises PT to $70 from $60, says co's results should convince investors "it is worth doing more work on the name" but expects it will take time to understand the capital-intensive model

Morgan Stanley raises PT to $58 from $48, says CoreWeave's large contracts, including $11.9 bln deal with OpenAI, show its strong positioning for an opportunity that could exceed $360 bln in 2028

Bank of America raises PT to $76 from $42, notes CRWV is "well positioned to capitalize on the rapidly growing AI infrastructure industry"

Eight out of 16 analysts rate stock as "buy" or higher, eight "hold"; Median PT is $50.50, as per LSEG data

Stock has surged 69% from the March IPO offer price