BofA Maintains Buy Rating on Snowflake Despite Lowered Price Target
Bank of America (BofA) lowered its price target for Snowflake Inc. (SNOW) to $195 from $275 but maintained a 'Buy' rating, citing downward revisions in revenue and free cash flow forecasts as well as rising execution risks tied to AI competition. UBS also reduced its price target on SNOW while keeping the Buy rating.
Topics: AI BofA Cloud Data Platform Snowflake UBS