BUZZ - Several brokerages lower CoreWeave's target price due to rising capital costs

November 9 - ** Next-generation cloud computing company CoreWeave (CRWV.O) shares rose 5.4% to $48.92

** At least two brokerage firms have lowered their price target for the stock

** Wells Fargo expects the company to raise at least $25 billion in debt for data center expansion, which could put pressure on the stock’s valuation

** Wells Fargo cut CRWV’s price target from $160 to $115

** According to Wells Fargo, CRWV’s financing need can, to a large extent, still be covered by nearly $30 billion in available liquidity, including undrawn debt and fundraising in recent quarters

** Rosenblatt increased the company’s discount rate in its free cash flow model from 12% to 15%, citing rising rates across the yield curve

** Rosenblatt sharply lowered its CRWV price target from $250 to $160; maintains “Buy” rating

** The stock has traded below its 100-day moving average for more than a month

** The 100-day moving average is a closely watched indicator of a stock’s long-term trend

** Of 46 brokerages, 32 give the stock a “Buy” or higher rating, 12 rate it as “Hold,” and 2 rate it as “Sell” or lower; the median price target is $126.50 — LSEG data

** Including the decline for the day, the stock is down 31.7% year-to-date

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