BofA raised the firm’s price target on Cloudflare (NET) to $235 from $160 and keeps a Buy rating on the shares. In the near term, the firm expects Cloudflare to continue to take share in the secure access service edge, or SASE, market as Enterprises modernize network security, says the analyst, whose target valuation increase is based on the reacceleration of growth, underpinned by increasing platform adoption and strong positioning in attractive markets.
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