UBS: Cuts CoreWeave price target to $105, maintains "Buy" rating, long-term view remains positive.

UBS analyst Karl Keirstead noted in a research report last Friday that even if credit markets tighten, CoreWeave can still reduce its need for external debt financing through private credit, vendor financing, or selling a larger proportion of equity. He cited Nebius's acquisition of a $3.5 billion credit facility from Citi last week as an example showing that new cloud players still have opportunities to obtain funding, and noted that the latest tech sector earnings have not yet shown signs of a slowdown in AI investment. At the same time, he acknowledged that rebuilding investor confidence may take several quarters, and CoreWeave's stock price may still consolidate or perform weakly in the short term. The bank maintained its "Buy" rating on CoreWeave but lowered its price target from $120 to $105, citing that the company's fundamentals have not yet shown substantial deterioration and its long-term view remains positive.