C3.ai price target lowered to $13 from $14 at Piper Sandler

Piper Sandler analyst Arvind Ramnani lowered the firm’s price target on C3.ai to $13 from $14 and keeps a Neutral rating on the shares. The company’s fiscal Q2 results came in ahead of the Street’s tempered expectations and while it reaffirmed fiscal 2023 guidance, it indicated that "pervasive economic uncertainty" is driving booking headwinds, Ramnani tells investors in a research note. The analyst is "less enthusiastic" than management on the outlook and would like to see proof points before revisiting estimates.