C3 AI price target raised to $35 from $20 at DA Davidson

DA Davidson raised the firm’s price target on C3 AI (AI) to $35 from $20 but keeps a Neutral rating on the shares. The stock has risen over 50% in the past month in part due to its recently announced strategic alliance with Microsoft (MSFT), which will enhance C3.ai’s go-to-market and product roadmap, the analyst tells investors in a research note. The firm adds however that while it sees potential benefits from this alliance likely coming to fruition over the long run, the run-up is “creating a tricky setup” for the stock in the near term.