C3 AI price target lowered to $15 from $20 at Wedbush

Wedbush lowered the firm’s price target on C3 AI (AI) to $15 from $20 and keeps an Outperform rating on the shares. The firm notes C3.ai reported weaker than expected Q3 results featuring significant misses across the board while providing guidance that came in well-below Street expectations as the company focuses on shifting its go-to-market motion towards large-scale enterprise transformations to win more share in the market. Wedbush remains positive on the name as C3 remains a prime M&A candidate with the company’s laser focus on the convergence of AI, big data, and cloud computing.