C3.ai price target raised to $21 from $14 at Canaccord

Canaccord analyst David Hynes raised the firm’s price target on C3.ai to $21 from $14 and keeps a Hold rating on the shares. The analyst said we’ve been consistently bullish on the company’s long-term potential to capture enterprise demand for AI-powered solutions in what is likely the first or second inning of the adoption cycle. We’ve just been cautious on timing, particularly due to the fluid state of the the financials as the company shifts toward consumption pricing and positive EBIT in 2024.