Loop Capital analyst Ananda Baruah raised the firm’s price target on Penguin Solutions (PENG) to $35 from $30 and keeps a Buy rating on the shares. The company is seeing early signs of commercial AI adoption, booking five new customers this quarter after booking three in the February quarter, the analyst tells investors in a research note. On sovereign AI, Penguin has also been brought into a large opportunity in the Middle East, although in the very early stages, the firm added.
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