BUZZ-Wedbush raises PT on Snowflake, cites AI tailwinds
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Wedbush has raised its price target on Snowflakefrom $250 to $270, maintaining an “outperform” rating. This new target reflects a 12.2% premium over the stock's last close. Snowflake shares are up nearly 1% at $243 in premarket trading. Wedbush expresses confidence in Snowflake's growth potential, driven by its refined go-to-market strategy and integration of product innovations, particularly in response to rising AI demand. Currently, 42 of 51 brokerages rate the stock as “buy” or higher, with a median price target of $270. The stock has increased 56% year-to-date.
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