CoreWeave Inc. (NASDAQ:CRWV) shares are trading higher Wednesday. UBS initiated coverage on the stock with a Buy rating. Here’s what you should know.

UBS Initiates CoreWeave With a Buy Rating and $120 Target

UBS analyst Karl Keirstead began covering CoreWeave with a Buy rating and set the price target at $120. The move broadens UBS’s reach within the AI infrastructure space, an area the firm had previously covered mainly through hyperscalers and Oracle before adding CoreWeave to that list.

The UBS analyst built the bullish case around persistently strong demand for AI computing power, along with signs that CoreWeave’s revenue per gigawatt of capacity should continue trending upward. The note pointed to the broader market’s skepticism toward that story, citing the stock’s 2027 revenue multiple of just 3 times as evidence that doubt still runs deep.

While the note didn’t dismiss worries tied to CoreWeave’s debt load and credit profile, it argued those risks look to be topping out rather than worsening, framing the call as one that runs counter to prevailing Wall Street opinion.

Wall Street Remains Deeply Split on CoreWeave

Beyond UBS’s individual call, the broader analyst community remains far from unified on CoreWeave. The stock holds an overall Buy consensus, with 50 analysts averaging a price target of $139.60, though individual targets swing wildly, from as low as $54 to as high as $250.

That divide showed up clearly this week. UBS introduced its Buy rating and $120 target on September 23, just two days after Rothschild & Co. took the opposite stance, initiating coverage with a Sell rating and a $54 target on September 21. Rosenblatt, meanwhile, has stuck with a considerably more bullish $250 target and Buy rating since September 18, leaving nearly $200 separating the most pessimistic and most optimistic views on the stock.

CRWV Shares Are Rising

CRWV Price Action: CoreWeave shares were up 1.96% at $88.46 at the time of publication on Wednesday, according to Benzinga Pro.

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