Upside for Snowflake but…

Snowflake (SNOW) – another member of the Berkshire Hathaway equity portfolio – was up more than 4% earlier after Jefferies analyst Brent Thill upgraded the cloud stock to Buy from Hold. “We are upgrading SNOW after a significant compression on its multiple in the last six to eight months, in part driven by a broader sector drawdown and by continued execution and strength in top-line growth,” the analyst says, calling out SNOW’s “best-in-class fundamentals” and “high quality growth.”

However, broad-market headwinds eventually pressured the stock to a 3.0% loss on the day.

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