Scotiabank raised its price target for Snowflake (NYSE: SNOW) to $285 from $205.
The bank maintained its "Sector Outperform" rating for the company.
The adjustment follows Snowflake's strong first-quarter fiscal 2027 results, where product revenue exceeded expectations.
Scotiabank cited product growth momentum and the strong adoption of AI-related offerings, such as Cortex Code, as key drivers for the increase.
Other firms also raised their price targets for Snowflake following the company's earnings report and outlook.