BUZZ-CoreWeave shares continue to decline, Deutsche Bank and Citigroup lower target prices

November 4 - ** After the Democratic Party scored a sweeping victory in the U.S. midterm elections, shares of cloud company CoreWeave (CRWV.O) fell 8% in pre-market trading to $49.40

** Deutsche Bank cut its price target on the stock from $150 to $125, but this still suggests about 133% upside from the latest closing price of $53.74

** Deutsche Securities said CoreWeave’s funding needs and the sustainability of broader artificial intelligence infrastructure demand are putting pressure on the share price, but the institution believes these concerns are overstated

** Citigroup reduced its price target from $159 to $128, which still suggests about 138% upside from the latest closing price of $53.74

** Citi Securities said it expects CRWV to provide more clarity on its mid-term funding needs and plans to reduce capital intensity

** Affected by concerns over AI funding, the CRVW share price has fallen more than 50% from its August peak

** Out of 46 brokerages, 32 have a “buy” or higher rating on the stock, 12 have a “hold” rating, and 2 have a “sell” or lower rating; the median price target is $130

** As of the previous trading day’s close, the stock has declined about 25% year-to-date

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