Citi Initiates CBRS Coverage With $340 Price Target, Implying 70% Upside on Monday

According to reports, Cerebras Systems (CBRS) received bullish coverage from multiple Wall Street firms on Monday. Citi initiated coverage with a 'buy' rating and a $340 price target, implying 70% upside from Friday's close of $201, citing the company's first-mover advantage in fast-inference AI chips and potential to capture 40%-50% of a $130 billion market. Morgan Stanley also began coverage with an 'Overweight' rating and a $250 price target, with analyst Joseph Moore noting strong demand for low-latency AI inference solutions. Morgan Stanley expects existing contracts to support approximately $6 billion in revenue by 2028, with potential for larger growth.
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