Confluent price target raised to $42 from $26 at Barclays

Barclays analyst Raimo Lenschow raised the firm’s price target on Confluent to $42 from $26 and keeps an Overweight rating on the shares. The analyst came away from the company’s investor day with a greater appreciation for its real-time data streaming “moat.” The firm sees success in Confluent building a fully managed Flink solution, further positioning it as a leader. While early, the company is seen as an artificial intelligence winner, which should invite more investor interest, the analyst tells investors in a research note.