UBS analyst Roger Boyd upgraded Cloudflare to Neutral from Sell with a price target of $82, up from $76. The firm sees a more balanced risk/reward for the shares given the company’s go-to-market momentum, better secure access service edge checks, the Q1 guide-down and the stock’s valuation de-rating. Cloudflare’s growth headwinds are reflected with the shares down 12% since the Q1 report, the analyst tells investors in a research note.
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