Stifel analyst Adam Borg upgraded Cloudflare (NET) to Buy from Hold with a price target of $136, up from $95. The company is positioned to deliver improving execution and upside to expectations against a “massive and growing” total addressable market, the analyst tells investors in a research note. Stifel further contends that Cloudflare can sustain at least 25%-30% revenue growth and improving profitability in the coming years.
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