Citi initiated coverage of Clearwater Analytics with a Buy rating and $28 price target. Clearwater is an attractive vertical software play on modern investment accounting and related front-to-back tech solutions, the analyst tells investors in a research note. The firm says the company is at an “inflection point” due to its elevated new logo opportunity, multi-product transition and interest rate stability. Clearwater’s platform and opportunity breadth suggest the stock’s risk/reward skews to the upside, contends Citi.
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