JPMorgan has initiated coverage on CoreWeave (CRWV, Financial), assigning an Overweight rating and a price target of $43. The firm highlights the company's strong position in the artificial intelligence sector, noting its rapid revenue growth and significant remaining performance obligations backlog.
CoreWeave, recognized for its high-quality backlog, is also generating positive GAAP operating margins in the high teens. This financial strength and growth potential have been further bolstered by support from Nvidia, underscoring the company's solid foothold in the AI landscape.
