Bank of America reinstated coverage of CoreWeave Inc. (NASDAQ:CRWV) with a Buy rating.
Analysts established a $100 price target for the company.
The target suggests a 22% upside from the current share price.
CoreWeave currently trades at $81.96.
Shares rose approximately 2% in premarket trading following the announcement.
BofA Securities expects the firm to capture share in the $79 billion AI infrastructure-as-a-service market.
The outlook cites sustained demand for AI computation and proprietary software optimized for AI workloads.
Strategic partnerships with Nvidia and OpenAI underpin the firm's positive rating.