Rubrik initiated with a Buy at Citi

Citi analyst Fatima Boolani initiated coverage of Rubrik with a Buy rating and $46 price target. The analyst believes the company’s “robust and moder”n data protection platform is well positioned against the “steady convergence of these disciplines.” The company can “disrupt a sleepy,” three-decade-old, $30B-large backup and recovery and storage market, creating unique share dislocation optionality, files to sell common stock, no amount given