BNP Paribas initiates CoreWeave coverage with $192 price target
The Livingston-headquartered firm has surged 50% year-to-date, with BNP Paribas projecting a further 60% rally, while broader Wall Street consensus remains more cautious at a Moderate Buy.
BNP Paribas analysts, led by Stefan Slowinski, have initiated coverage of CoreWeave (CRWV) with an Outperform rating and a $192 price target, positioning the cloud infrastructure provider as a critical component of the artificial intelligence ecosystem. In a research note issued on Tuesday, the bank highlighted CoreWeave’s status as a preferred partner for major AI developers, including Anthropic, Mistral, and OpenAI, as a primary driver for its bullish outlook.
The initiation comes as CoreWeave shares have risen approximately 50% year-to-date in 2026. Slowinski projects a further 60% rally over the next 12 months, underpinned by what the firm describes as strong contractual revenue visibility and differentiated software capabilities. The analyst noted that CoreWeave’s expansion into higher-value services, particularly managed inference, positions the company well for long-term growth despite trading at a premium valuation of roughly 9.5 times sales.
Technical indicators from Barchart reinforce the positive momentum, with an 88% buy opinion based on 13 distinct metrics. The stock is currently trading above its key moving averages, a setup that typically signals a strong uptrend. Additionally, options data for contracts expiring on 21 August shows a put-to-call ratio of 0.67, indicating a bullish skew, with an upper price set at $153.
While BNP Paribas is notably aggressive in its assessment, the broader Wall Street consensus remains more measured. According to Barchart, the average rating for CoreWeave is a Moderate Buy, with a mean price target of approximately $135. This implies a potential upside of nearly 13% from current levels, significantly lower than the 60% gain projected by the French banking giant.
The divergence in targets highlights the varying degrees of confidence in CoreWeave’s ability to sustain its growth trajectory. BNP Paribas argues that the firm’s strategic importance and existing contracts justify its current valuation, whereas the consensus view suggests more modest near-term gains. Investors are now watching to see if CoreWeave can deliver on its growth plans to support the higher multiples assigned by its most optimistic analysts.
