C3.ai price target raised to $23 from $13 at Piper Sandler

Piper Sandler analyst Arvind Ramnani raised the firm’s price target on C3.ai to $23 from $13 and keeps a Neutral rating on the shares. The company’s Q3 results came in ahead of expectations and it modestly increased the midpoint of fiscal 2023 revenue targets, the analyst tells investors in a research note. The firm says C3.ai is marching toward profitability by the end of fiscal 2023.