Bank of America Raises CoreWeave Growth Forecasts After 15.5% Drop

Bank of America raised its growth outlook for CoreWeave while keeping a $140 price target, following a 15.5% one-day decline in the AI cloud provider’s shares on Oct. 14. The bank’s Oct. 15 forecasts call for CoreWeave’s revenue to grow 105% in 2027, up from a previous estimate of 102%. For 2028, it raised its projection to 63% from 58%. Bank of America retained its Buy rating on the stock. The projections assume CoreWeave adds 1.4 gigawatts to 1.5 gigawatts of power capacity each year in 2027 and 2028. They put the company’s active power capacity at 4.8 gigawatts by the end of 2028. At the end of the second quarter, CoreWeave had 1.5 gigawatts of active power capacity and about 3.7 gigawatts of contracted capacity.

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