Wells Fargo analyst Andrew Nowinski raised the firm’s price target on Cloudflare (NET) to $135 from $110 and keeps an Overweight rating on the shares. The firm believes 2025 will be a much stronger spending environment than seen in 2024, driven in part by GenAI and several market transitions with security. Cloudflare is Wells’ top pick for 2025, as the company sells into many of these transitions.
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