TREE NEWS reports: Morgan Stanley lowered its price target on CoreWeave to $70 from $99, while raising its targets on Western Digital to $668 from $643 and on Spotify to $700 from $640. The revisions were disclosed on October 23. The note adjusts the bank’s outlook across the three technology and media names.
Morgan Stanley cuts CoreWeave price target to $70 from $99
AI take
The CoreWeave cut stands out because it moves in the opposite direction from Morgan Stanley's raised targets on Western Digital and Spotify, suggesting the revision is company-specific rather than a blanket de-rating of tech. CoreWeave's positioning as AI compute infrastructure makes its target a useful read on how banks are treating the AI-adjacent names versus storage and media. Whether other sell-side desks follow with similar CoreWeave revisions is the open question worth tracking.
Generated by AI for reference only.
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