Goldman Sachs has initiated its coverage of CoreWeave (CRWV, Financial) with a Neutral rating and has set a price target of $54 for the stock. This decision highlights the distinctive nature of the asset, albeit in a market where there are few pure-play generative artificial intelligence peers.
The financial institution notes that the market has shown a tepid response towards both leverage and generative AI, which could impact the stock's performance. Furthermore, considering CoreWeave's relatively short history of operations and the current economic uncertainties, the company is tasked with consistently proving its operational capabilities to see significant movement in its stock price.
