00:00 Speaker A
First up, Cloudflare. Bank of America analysts double upgrading the stock to buy from underperform, citing the company’s improving fundamentals and significant growth potential. Saying Cloudflare is poised to be one of the true AI winners in software. You can see the action playing out in the stock here up about 4% off the back of this note. Uh, Kenny, the analyst behind this call, Madeleine Brooks, uh really upgrading here. The price target to 160 from the previous street low of just $60, again, saying that their differentiated AI positioning leaves high probability for the firm to become an AI leader in software as a service. So I think it’s a huge vote of confidence.
00:42 Speaker B
I think it’s a huge vote of confidence, and Cloudflare is one of the names in the sector that, you know, it’s one of the key names in the sector. So I’m not surprised at all. It’s been a name that we’ve liked. So I’m glad that she upgraded it, and look at the action today. Investors certainly liked the idea.
00:57 Speaker A
Yeah, and it’s interesting, too, given the competition in the space that they’re still seeing them as such a success story. Why do you think that is?
01:07 Speaker B
Uh, you know, I’m not sure why they’re, why they’re suddenly seeing them as a success story because I think they’ve been a success story all along. Um, uh, uh, but I’d have to, you know, I, I didn’t see her report. I have to read her report to see kind of what she’s looking at. But one way or the other, I think it’s a strong name in the sector.
01:34 Speaker A
Yeah, and she talks about again, their AI capabilities moving forward. I do just also want to mention the street is still pretty mixed on Cloudflare, which is interesting. You got 50% buy, 40% hold.
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