Scotiabank upgrade lifts Cloudflare shares 3.6%, premarket gains of 2.1%
NET•Scotiabank raised Cloudflare’s rating to outperform, citing accelerating AI-driven demand for its edge network services. Shares surged 3.61% intraday Wednesday and added 2.12% in premarket trading on the bullish outlook.
1. Scotiabank Raises Rating
Scotiabank upgraded Cloudflare’s rating to outperform, highlighting accelerating AI-driven demand for its edge network and security offerings.
2. Share Price Reaction
Cloudflare shares surged 3.61% during regular trading Wednesday and extended gains by 2.12% in premarket action on the upgrade news.
3. Analyst Rationale
The upgrade reflects confidence that Cloudflare’s AI integrations across content delivery and security services will drive stronger revenue growth amid enterprise AI deployments.
