Deutsche Bank sticks with buy on CoreWeave as debt fears hammer the stock

Deutsche Bank still has a buy rating on CoreWeave, the AI cloud infrastructure company whose stock has spent recent weeks getting punished. The vote of confidence comes as investors fret less about whether CoreWeave has customers and more about whether it can afford to keep building for them. A $150 target meets a $65 stock Deutsche Bank’s most recent move on the name came on August 7, 2026. That day, the bank lifted its price target on CoreWeave (CRWV) to $150 from $135 and kept its Buy rating in place. Then October 14, 2026 happened. CoreWeave shares fell approximately 15% that session, closing at $65.78. The trigger was CoreWeave’s debt, not its operations. Yields on the company’s $1.25 billion in unsecured notes due 2032 climbed toward 15%. Equity investors noticed. Their worry centers on CoreWeave’s heavy debt load and what pricier borrowing could mean for financing its expansion plans. The backlog argument The bull case leans heavily on one number: backlog. CoreWeave reported a revenue backlog of $104.2 billion for Q2 2026, up from $99.4 billion in Q1. The momentum continued into the next quarter. CoreWeave secured more than $25 billion in net-new customer commitments in Q3, ...