c3.ai (AI) PT Raised to $35 at DA Davidson

DA Davidson analyst Lucky Schreiner raised the price target on c3.ai (NYSE: AI) to $35.00 (from $20.00) while maintaining a Neutral rating.

The analyst commented: " With this note, we are transitioning coverage of C3.ai with a NEUTRAL rating and $35 price target. Shares are up over 50% in the past month in part due to its recently announced strategic alliance with Microsoft which will enhance C3.ai's go-to-market and product roadmap. We view potential benefits from this alliance likely to come to fruition over the long run creating a tricky setup near term for the stock."

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