MongoDB price target raised to $320 from $280 at Scotiabank

Scotiabank raised the firm’s price target on MongoDB (MDB) to $320 from $280 and keeps a Sector Perform rating on the shares. While the firm believes it is too early to name AI as a tailwind for the company, Scotiabank believes MongoDB has earned a right to be called a “hall of fame” infrastructure software company, the analyst tells investors. The firm notes, however, it recommends for investors to take a wait-and-see approach on the shares for now.