Cloudflare (NET) stock is trading 5.1% up at $260.28 in pre-market following an upgrade by Scotiabank. Scotiabank raised its rating on NET from Sector Perform to Outperform and significantly increased the price target from $225 to $300. The upgrade reflects confidence in Cloudflare's strong position in attracting top-tier AI-focused clients and its capabilities in Secure Access Service Edge (SASE) and edge computing.