CoreWeave Goldman Upgrade Sparks Neocloud Rally
Goldman Sachs upgraded CoreWeave ($CRWV) to Buy with a $106 price target (73% upside), sending the stock +6.3% premarket and dragging the broader neocloud sector higher: NBIS +7%, IREN +5.7%, APLD also reversing.
What we know
Goldman analyst Gabriela Borges upgraded CRWV from Neutral to Buy on Monday October 19, setting a $106 PT (down from $139) — representing ~73% upside from current levels after the stock fell 43% since August 11. JPMorgan simultaneously upgraded Intel ($INTC) to Neutral, though the new $85 PT is below Friday's close. The CRWV upgrade pulled the whole neocloud complex: NBIS +7%, IREN +5.7%. An account on X called it a 'holy reversal' and expected it to hold into market hours. Morgan Stanley's Michael Wilson separately argued the three-month equity correction is in its final stages and investors should prepare to buy dips.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.