CoreWeave Wins JPMorgan Upgrade on Premium Compute Pricing

JPMorgan upgraded CoreWeave (CRWV) to Overweight, citing strong demand and favorable contract pricing. Analyst Samik Chatterjee raised the price target to $125, noting potential revenue and margin growth. CoreWeave's ability to monetize GPU capacity and manage capital requirements remains key for investors.

Nebius (NBIS) rose 6% after announcing GPU price hikes of 17-21% starting Oct. 1. JPMorgan upgraded CoreWeave (CRWV) to Overweight with a $125 target, but its stock barely moved. IREN (IREN) fell 4% after Rothschild initiated coverage with a Neutral rating and $40 target, citing capital concerns.

JPMorgan upgraded CoreWeave (CRWV) to overweight, citing strong demand and favorable pricing for AI cloud computing. The upgrade precedes the company's customer conference next week.

CoreWeave (CRWV) is shifting to shorter contracts for AI computing capacity, which JPMorgan argues could boost margins. The company raised prices by 25% in July, and management expects 5-10% higher contribution margins. JPMorgan increased its price target to $125, citing better pricing power and margin expansion.

Bernstein upgraded Quanta Services (PWR) to Outperform with a $775 target. JP Morgan upgraded CoreWeave (CRWV) to Overweight with a $125 target. HSBC upgraded Dollar General (DG) to Buy with a $160 target. PWR closed at $634.90, CRWV at $86.90, and DG at $120.60 on Wednesday.

JPMorgan upgraded CoreWeave to overweight, raising its price target to $125. The bank cited strong cloud compute demand and the company's shift to short-term contracts. CoreWeave is down 13% this quarter but up 39% year-to-date. Analysts expect capital investments to drive future gains.