Newly listed Cerebras Systems (CBRS) has had a tough run since its listing. Down about 20%, the company is set to report its Q1 and first set of quarterly earnings today after market hours. And the biggest cheerleader of AI stocks in the market, Dan Ives-led Wedbush, remains bullish about the company, irrespective of its sombre start as a public company.
Maintaining its "Outperform" rating on CBRS, the firm has a price target of $270 on the stock. The price target would denote an upside potential of 20.3% from current levels for a company that gained fame for its huge dinner plate-sized chips.
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