Wells Fargo raised the firm’s price target on Snowflake (SNOW) to $225 from $200 and keeps an Overweight rating on the shares. The firm says the company delivered a textbook beat-and-raise on Q1, with no sign of macro impacts surfacing. The path to second half of the year re-acceleration now looks more likely, especially as an emerging product cycle layers on, Wells says, adding that the next catalyst is likely Summit.
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