Morgan Stanley analyst Sanjit Singh assumed coverage of Snowflake (SNOW) with an Overweight rating and $262 price target Under new CEO Sridhar Ramaswamy, Snowflake has become a “better executing and faster innovating company,” the analyst tells investors in a research note. The firm sees artificial intelligence “creating a long growth runway” in the core business while market expansion into data engineering and AI provide the path to 20% growth annually through 2030.
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