Monness Crespi upgraded Snowflake (SNOW) to Buy from Neutral with a $140 price target ahead of the company’s Q3 report due on November 20. Following a 41% year-to-date decline and 73% fall from the stock’s peak in late 2020, valuation has “become more interesting to us,” the analyst tells investors. Snowflake has accelerated its pace of innovation this year and the firm believes this ramp will begin to bear fruit over the next 12-18 months, the analyst added.
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