Scotiabank raised the firm’s price target on Cloudflare (NET) to $110 from $87 and keeps a Sector Perform rating on the shares. After a healthy FY24 where U.S. software equities performed well, the firm feels bullish in 2025 about the software sector, the analyst tells investors. The firm’s forensic analysis points to software earnings surprises and estimate revisions. The firm names Cloudflare as one of the “tough model setups” in its coverage.
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