Confluent price target raised to $35 from $32 at Truist

Truist analyst Miller Jump raised the firm’s price target on Confluent (CFLT) to $35 from $32 and keeps a Buy rating on the shares as part of a broader research note on Infrastructure Software. The company is the leader in data-in-motion, positioning themselves in a layer of the enterprise tech stack that continues to grow in importance, and as data volumes grow with the acceleration of cloud adoption by enterprises globally, Confluent is positioned to benefit via above market-growth rates and operating leverage, the analyst tells investors in a research note.