Evercore ISI Group Maintains Outperform on Snowflake, Lowers Price Target to $170
Portfolio Pulse from Benzinga Newsdesk
Evercore ISI Group has maintained an 'Outperform' rating on Snowflake but lowered its price target from $225 to $170.
August 19, 2024 | 2:14 pm
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Evercore ISI Group has maintained an 'Outperform' rating on Snowflake, indicating confidence in the company's performance. However, the price target has been lowered from $225 to $170, suggesting a more conservative outlook on its stock price.
The 'Outperform' rating suggests that the analyst believes Snowflake will perform better than the market average. However, the reduction in the price target from $225 to $170 indicates a more cautious approach, possibly due to market conditions or company-specific factors. This mixed signal may lead to neutral short-term price movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100