BofA lowered the firm’s price target on C3 AI (AI) to $10 from $14 and keeps an Underperform rating on the shares. The firm, which thinks the key debate is whether C3.ai will be able to maintain competitive differentiation in “a category being attacked from all angles,” adds that “time will tell if C3.ai becomes a significant share gainer in AI.” The firm’s lowered target reflects a revised multiple and estimates to reflect an updated view on growth potential, risks and peer multiple compression.
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