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UBS Upgrades Snowflake to Buy, Sees AI-Driven Growth Potential
UBS Upgrades Snowflake to Buy, Sees AI-Driven Growth Potential
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UBS has upgraded Snowflake (SNOW) from Neutral to Buy, raising its price target from $210 to $265, citing the company's improving performance and positioning in the AI-driven data space. Analysts highlight Snowflake's role in providing 'AI-ready' data, alongside peers like Palantir (PLTR) and Databricks, as a key growth driver.
The broader shift of software giants like Salesforce (CRM) and SAP (SAP) into data infrastructure underscores rising demand. UBS argues the market hasn't fully priced in Snowflake's potential, offering investors a window before the AI boom matures. Morgan Stanley remains cautious, maintaining an Equal-weight rating at $200.
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