Bank of America reiterates "Buy" rating and $140 price target for CoreWeave, raises sales forecast but lowers earnings expectations.
Bank of America (BofA) reiterated its "buy" rating and $140 price target on CoreWeave (CRWV) stock, implying a 30% upside even after the stock's after-hours gain, following the company's strong Q2 2026 earnings report. The bank raised its CoreWeave sales forecast for 2026 from $12.51 billion to $12.84 billion, for 2027 from $25.2 billion to $25.96 billion, and for 2028 from $39.89 billion to $41.03 billion. However, BofA lowered its earnings per share (EPS) estimates for CoreWeave, projecting a loss of $3.93 for 2026 (previously $3.54), a loss of $0.89 for 2027 (previously $0.54), and an EPS of $2.68 for 2028 (previously $3.16), due to anticipated significant cuts to profitability from borrowing to support a larger revenue base.
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