Bank of America Securities upgraded Snowflake Inc. to Buy from Neutral and lifted its 12-month price target to $240 from $220, implying roughly 20% upside for the cloud-data platform. The brokerage said three proprietary data sets point to strengthening demand in Snowflake’s core data-warehouse offering and growing traction for its newer Cortex AI and Snowpark developer services. Analysts at Bank of America also raised their financial estimates ahead of Snowflake’s fiscal second-quarter results, due on Aug. 27, arguing that momentum in artificial-intelligence workloads could accelerate revenue growth. The shares have climbed about 47% over the past year, yet BofA contends the stock still trades at an attractive valuation relative to peers. KeyBanc Capital Markets separately reiterated an Overweight rating on Snowflake and maintained a $250 price target after surveying 15 customers and partners, which it said signalled sustained spending intentions and interest in the company’s Iceberg and generative-AI capabilities.