Rubrik price target raised to $50 from $43 at Truist

Truist raised the firm’s price target on Rubrik (RBRK) to $50 from $43 and keeps a Buy rating on the shares as part of a broader research note previewing Q3 results for the Infrastructure & Security Software names. Buyer behavior has stabilized in the sector since last year, and the firm is focused on visibility into 2025 when generative AI projects will have a “rubber meets the road” moment, the analyst tells investors in a research note. The cost for execution missteps will be high in the weeks ahead, and the firm favors high-quality names going into the print, Truist states. The firm adds that for the company, Rubrik’s ability to manage all data types in a variety of deployment environments, increasing number of use cases, technology innovation, and high recurring revenue, have positioned it strongly for durable growth going forward.