Citigroup Maintains Buy on Snowflake, Lowers Price Target to $240
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Tyler Radke maintains a Buy rating on Snowflake (SNOW) but lowers the price target from $290 to $240.

March 04, 2024 | 1:50 pm
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NEUTRAL IMPACT
Citigroup maintains a Buy rating on Snowflake but lowers the price target from $290 to $240.
While the reduction in price target from $290 to $240 by Citigroup could be seen as a negative signal, the maintenance of a Buy rating suggests that the analyst still sees value in the company's stock. This mixed signal could lead to short-term uncertainty among investors, potentially causing some volatility in the stock's price. However, the continued endorsement from a major financial institution like Citigroup could help mitigate any negative impact.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100