Citigroup resumed coverage of CoreWeave (CRWV) with a 'Buy/High Risk' rating, citing strong demand and robust booking growth. Analysts noted that CoreWeave’s near-term capacity is sold out through 2026. Management checks confirm strong booking trends are continuing into the fourth quarter.
This positive outlook is supported by a growing base of investment-grade customers.
Despite the optimistic rating, Citi lowered its price target to $135 from $192. The reduction acknowledges supply constraints and capacity delays. These delays are pushing some revenue and capital expenditures from late 2025 into early 2026.
The market reacted positively to the news. CoreWeave’s stock trended up more than 13% during Friday’s trading session.