Cloudflare price target raised to $200 from $150 at TD Cowen

TD Cowen raised the firm’s price target on Cloudflare (NET) to $200 from $150 and keeps a Buy rating on the shares. The firm updated its model following meetings with management and came away believing despite an uncertain macro, demand for its platform remains strong as Internet and security mission criticality outweigh concerns and last week’s brief outage, caused by a 3rd party, was swiftly dealt with, leaving no impact.