Snowflake surges after lifting product revenue forecast; brokerages raise PT
** Shares of data analytics provider Snowflake SNOW.N surge 21.4% to $156.75 premarket
** Co late on Wednesday lifted FY25 product revenue forecast and announced AI partnership with Anthropic to enhance its cloud services
** SNOW forecast $3.43 bln in FY25 product revenue vs $3.36 bln estimated earlier; it also beat Q3 revenue and EPS estimates, according to data compiled by LSEG
** At least six brokerages raise PT on stock
** Brokerage Barclays says SNOW's strong Q3 results contrast with market expectations of deceleration and suggest that co reaffirms its status as "best-in-class" in software
** J.P. Morgan says SNOW's "twin engines" of consumption and bookings led to a raised FY25 revenue outlook and accelerated product development is acting as a "flywheel flurrying into growth"
** Thirty of 45 analysts that track SNOW rate the stock "buy" or higher, 14 "hold" and one "sell"; median PT is $183.50 - LSEG data
** As of last close, stock down ~35% YTD
Reporting by Ragini Mathur
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