Snowflake price target raised to $203 from $165 at Barclays

Barclays analyst Raimo Lenschow raised the firm’s price target on Snowflake to $203 from $165 and keeps an Overweight rating on the shares. The company announced several new capabilities that demonstrate it will be a large beneficiary of artificial intelligence advancements, the analyst tells investors in a research note. However, investors were likely expecting the reiterated long-term revenue target, says the firm. Overall, it views Snowflake’s investor day as a “small positive.”