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To: Johnny Canuck who wrote (56748)	6/28/2023 12:47:06 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 67801

Snowflake stock rallies as ‘blizzard’ of AI product announcements make Wall Street happyPublished: June 28, 2023 at 12:35 p.m. ET By Wallace WitkowskiFollow comments 0 Snowflake CEO Frank Slootman delivering Tuesday’s keynote at Summit 2023 on June 27, 2023, in Las Vegas. SNOWFLAKE Email iconFacebook iconTwitter iconLinkedin iconFlipboard iconPrint iconResize icon Referenced Symbols SNOW 4.36% NVDA -2.38% MSFT 0.24% Listen to article Length2 minutes Shares of Snowflake Inc. stormed higher Thursday after analysts said partnerships and a “blizzard of product announcements” unveiled at this week’s Summit 2023 event positioned it as a foundational AI player. Snowflake SNOW, 4.36% shares rallied as much as 8% to an intraday high of $191.94, following a series of target price hikes Thursday following the company’s meeting with Wall Street analysts. TD Cowen analyst Derrick Wood, who has an outperform rating and a $205 price target, up from $185, said the company’s analyst day showed Snowflake has “a vision to be a complete AI stack.” Read: Snowflake stock rallies as CEO details AI offerings, focuses on data potential “Overall, we felt like SNOW is laying the foundation to be in a leading position in the emerging GenAI wave,” Wood said in a note. Blocks of that foundation include partnerships with Nvidia Corp. NVDA, -2.38% and Microsoft Corp. MSFT, 0.24% along with a “blizzard of product announcements,” as Citi Research analyst Tyler Radke put it, that would allow users to build their own AIs using data that never leaves Snowflake. NOW PLAYING: Inside her debt-free and travel-heavy lifestyle - MarketWatch Visit our Video Center Advertisement Read: Snowflake adds partnerships with Nvidia and Microsoft for AI double play Radke said Snowflake appears to have “upside opportunities” to its $10 billion revenue target by fiscal 2029, Radke said. The Citi analyst had a buy rating and a target price of $189. Analysts from firms such as Piper Sandler, Goldman Sachs, JP Morgan, Baird, Mizuho all raised their target prices on the stock resulting in an average target price of $189.24, compared with a previous $180.22, according to FactSet data. Of the 44 analysts who cover Snowflake, 28 had buy-grade ratings, 14 had holds, and two had sells, according to FactSet.