CoreWeave (CRWV) Climbs 22.6% on ‘Buy’ From Citigroup

Core Points - CoreWeave Inc. (NASDAQ:CRWV) experienced a significant increase of 22.64% on Friday, closing at $83, driven by renewed coverage from Citigroup and overall investor optimism [1][2] - Citigroup issued a "buy" recommendation for CoreWeave, although it reduced its price target by 30% from $192 to $135, indicating a 62% upside potential from the latest closing price [2][3] - The company reported strong bookings growth of 85% quarter-over-quarter and 270% year-over-year in Q3, but faced supply constraints that delayed revenue and capital expenditures from Q4 to Q1 2026 [2][3] - Management insights suggest that CoreWeave's capacity and bookings are expected to continue expanding in Q4, which may support growth acceleration in 2026 [3] - Financially, CoreWeave is positioned well with over 60% of its revenue linked to investment-grade customers and plans to announce a new credit facility in the first half of next year, which is anticipated to lower its cost of capital [3]