Confluent price target lowered to $27 from $30 at Truist

Truist lowered the firm’s price target on Confluent (CFLT) to $27 from $30 but keeps a Buy rating on the shares after its Q2 results. Despite modest upside in the quarter, the management reiterated the high end of the subscription revenue outlook for the year, as optimization offset other positive catalysts, the analyst tells investors in a research note. At current levels, the share price does not reflect any confidence in the potential drivers of reacceleration that management continues to highlight from AI, the firm added.