UBS Raises c3.ai Price Target To $17, Keeps Neutral Rating Amid Execution Concerns

Group 1 - UBS raised its price target on c3.ai to $17 from $16 while maintaining a Neutral rating due to ongoing uncertainty regarding growth trajectory and execution risks [1] - The firm expressed caution regarding FY27 revenue outcomes, with investor expectations ranging from flat growth to mid-20% expansion [1] - c3.ai's Q1 miss was attributed to execution issues on large deals rather than widespread weakness, but new leadership changes have introduced uncertainty [1] Group 2 - UBS noted that the FY26 revenue framework of $290 million to $300 million seemed conservative, but the lack of a finalized strategy under the new CEO could disrupt performance over several quarters [2] - The firm kept its FY26 revenue estimate unchanged at $299 million [2] - Visibility into the second half of FY26 and into FY27 remains limited, and despite negative investor positioning, UBS prefers to remain cautious until more clarity is available [2]