C3.ai price target lowered to $12 from $13 at Morgan Stanley

Morgan Stanley analyst Sanjit Singh lowered the firm’s price target on C3.ai to $12 from $13 and keeps an Underweight rating on the shares. C3.ai beat revenue and margin expectations in Q2 as several deals that had slipped in Q1 were closed, noted Singh. While implied Q3 revenue growth of negative 7% to 10% "certainly appears conservative," there remains risk around the timing and magnitude of existing customer’s renewals and an overhang remains due to the model transition and lack of visibility on accelerating top-line growth, Singh tells investors.