BofA keeps Buy on CoreWeave after stock drop, sees higher revenue

Bank of America kept its Buy rating on CoreWeave (CRWV [https://seekingalpha.com/symbol/CRWV]) on Thursday after a roughly 18% drop in the last two sessions as it raised their revenue forecasts. Stock was down ~2% at $64.47. "The decline in share price yesterday likely reflects concerns over financing hurdles for AI infrastructure players," said analyst Tal Liani. The analysts held their price target at $140, based on a price of 26 times expected 2027 operating profit, above the 14 to 19 times the analysts apply to peer cloud data center companies because of CoreWeave’s faster expected growth. BofA now expects CoreWeave’s revenue to grow 105% in 2027 and 63% in 2028, up from earlier forecasts of 102% and 58%. It projects revenue of $26.