Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Dunkin' Brands (DNKN) initiated with a Perform at Oppenheimer. 2. Dow (DOW) initiated with an Outperform at Bernstein. 3. Nvidia (NVDA) initiated with an Overweight at Piper Jaffray. 4. Pan American Silver (PAAS) initiated with a Sector Perform at National Bank. 5. Inovio (INO) initiated with an Overweight at Cantor Fitzgerald. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

CoreWeave, a cloud-computing company backed by Nvidia that rents out chips housed in data centers across the U.S. that customers use to create and deploy AI systems, has secured new funding from investors that values it at $19B, reported The Wall Street Journal's Asa Fitch. Investors in the latest $1.1B funding round led by Coatue included Magnetar Capital, Altimeter Capital, Lykos Global Management and Fidelity, according to the report, which notes that the new funding comes about five months after the company raised $642M from investors in a round that valued CoreWeave at $7B. Reference Link

Truist lowered the firm's price target on AMD (AMD) to $162 from $174 and keeps a Hold rating on the shares. The company's Q1 result and Q2 guide were mixed, with Data Center and Client businesses doing better, but Embedded and Gaming doing worse, the analyst tells investors in a research note. Truist adds that its longer-term concerns for AMD remain as the company's position in AI is likely "confined" relative to Nvidia (NVDA) and on expectations that the X86 market will slowly come under pressure from new CPU competitors.

Pan American Silver announced that it has agreed to sell its 100% interest in La Arena, which owns the La Arena gold mine as well as the La Arena II project in Peru, to Jinteng Mining, a subsidiary of Zijin Mining for $245M cash upfront and a $50M contingent payment. Under the terms of the agreement, at closing Zijin will pay $245M in cash and will grant Pan American a life-of-mine gold net smelter return royalty of 1.5% for the La Arena II project. Upon commencement of commercial production from the La Arena II project, the agreement provides for an additional contingent payment from Zijin of $50M in cash. The closing of the transaction is subject to customary conditions and receipt of regulatory approvals. Pan American expects the transaction to be completed in the third quarter of 2024. The La Arena property is located in the La Libertad province of Peru and is comprised of the La Arena gold mine and the La Arena II project. Since acquiring the mine from Tahoe Resources Inc. in 2019, Pan American has successfully added 535,521 ounces of gold through exploration, and extended the mine life from 2021 to 2026, with the potential for further extension.

Piper Sandler raised the firm's price target on Dow Inc. to $68 from $67 and keeps an Overweight rating on the shares. The firm notes the company reported Q1 earnings that generally exceeded consensus estimates. More importantly though, it pointed to modestly improving market environments with price hikes and increasing demand driving the expectations for higher earnings in Q2.