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C3 AI price target raised to $22 from $20 at Morgan Stanley

Morgan Stanley raised the firm’s price target on C3 AI (AI) to $22 from $20 and keeps an Underweight rating on the shares. A three-year extension of the Baker Hughes (BKR) partnership and sustained 26% revenue growth in Q4 “likely qualifies as a better than feared outcome.” However, subscription revenue growth having slowed to 9%, along with a high mix of demonstration licenses and services revenue, keeps the debate open on the durability of long-term growth, the analyst argues.

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