There is a specific kind of conviction that gets tested when a stock falls sharply on earnings. Most analysts either defend their prior call quietly or quietly revise it lower. Every so often, one does neither.

One of Wall Street‘s most closely watched AI infrastructure names just delivered that kind of moment. And the analyst who stepped up afterward had something specific to say about why the selloff may have missed the point entirely.

What Wells Fargo changed on CoreWeave

Wells Fargo analyst Michael Turrin raised his price target on CoreWeave to $155 from $135 on May 8, maintaining an Overweight rating. The move came a day after CoreWeave’s Q1 2026 earnings report delivered a revenue beat but a softer-than-expected Q2…