C3.ai initiated with a Market Perform, $40 price target at Northland

As previously reported, Northland analyst Michael Latimore initiated coverage of C3.ai with a Market Perform rating and $40 price target. C3.ai is a pure play, public AI company with “a strong technology heritage and extensive list of blue-chip customers” and while the firm sees “myriad drivers,” they are balanced by a changing business model and the stock’s current valuation, the analyst tells investors.