This AI play gets two price target increases ahead of earnings

CoreWeave still looks attractive despite its recent rally, particularly as the company prepares to update investors on its pipeline of multibillion-dollar deals with its first-quarter earnings report later this week, according to two firms on Wall Street. Bank of America, which has a buy rating on the cloud-computing name, raised its price objective on shares to $140 from $120. That new target suggests nearly 12% upside from Monday's close. Jefferies also raised its price target on shares to $160 from $120, implying 28% upside from their closing price on Monday. The firm also has a buy rating on the stock. "CRWV is set for a major [remaining performance obligation] step-up after announcing 3 deals in [April]," Jefferies analyst Brent Thill said in a note, referring to the company's deals with Meta, Anthropic and Jane Street announced last month. "Consistent execution on [revenue], [margins] & active power is key to restoring [long-term] conviction in targets. Our checks reinforce unrelenting AI compute demand & CRWV's edge in hosting increasingly complex workloads," he added. CRWV YTD mountain CRWV year to date Shares have jumped 75% in the year to date as hyperscalers seek out cloud-computing services for their artificial intelligence-focused data centers. Amid the surge, CoreWeave has built up a pipeline of commitments worth more than $95 billion, which includes a $21 billion agreement with Meta and a $6 billion deal with Jane Street signed in April. …