Deutsche Bank sees 128% upside in CoreWeave, urges buying the dip

Deutsche Bank recommends buying shares of cloud infrastructure company CoreWeave, setting a $150 price target that implies 128% upside from Wednesday's close, despite a recent sharp selloff. Analyst Brad Zelnick said Wednesday that no company-specific factors justify the decline, which saw shares plunge over 15% amid concerns about CoreWeave's outsized borrowing, including a planned $3 billion convertible debt offering. He noted the AI infrastructure market backdrop remains "quite supportive." Zelnick highlighted CoreWeave's strong relationships with Nvidia, Dell, Meta, and OpenAI as potential support, and the call aligns with Street consensus, as 32 of 45 analysts rate the stock a buy. Shares traded over 5% lower in premarket Thursday.