RBC Capital lowered the firm’s price target on Snowflake (SNOW) to $220 from $245 and keeps an Outperform rating on the shares as part of a broader research note previewing Q1 results among Software names. The set up on the stock is tricky but favorable, with Q1 upside likely given strong checks and ramping Cortex Code adoption that could result in no deceleration to modest acceleration in product revenue, the analyst tells investors in a research note.
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