摩根大通渠道调研后维持 Snowflake 增持评级与426美元目标价，但属软催化、无新增硬事实，股价当日已跌约7%

J.P. Morgan analysts came away with higher confidence in Snowflake's ability to maintain stout growth following conversations with multiple partners. "One SI characterized a Redshift migration as taking roughly three months versus six previously, describing shorter time to value as a selling point," said J.P. Morgan analyst Samik Chatterjee in a Friday investor note. "Another described materially shortening a Consumer Packaged Goods company's data migration from two systems into Snowflake, while explicitly crediting its own proprietary AI frameworks alongside CoCo. A third SI was more measured, suggesting cutting roughly a third of the time rather than half." "On the pull-forward debate, the partner describing the CPG migration said faster delivery was leading to additional statements of work and managed services, while its own pipeline was growing and it was hiring sellers," he added. "A master data management partner underscored a healthy pipeline and reported record new business bookings in dollar terms." The conversations prompted J.P. Morgan to retain its Overweight rating and $426 price target on Snowflake. Shares were down 7% by noon trading on Friday. However, the share price has more than doubled over the past six months. On Thursday, Snowflake ( SNOW ) revealed a new partnership with Lumen ( LUMN ) to help enterprises overcome data fragmentation and build a stronger foundation for analytics and AI. "By bringing Lumen's private, programmable network together with Snowflake's AI Data Cloud, we plan to simplify the connectivity needed to help customers move, control, and access business-critical data wherever it resides so they can scale AI with confidence," said Lumen Chief Technology and Product Officer Jim Fowler .