** Wedbush lifts PT on cloud analytics firm Snowflake SNOW.N to $270 from $250, maintains rating at "outperform"

** New PT shows a premium of 12.2% from the stock's last close

** Shares of the co nearly up 1% at $243 premarket

** Wedbush sees confidence in co's ability to accelerate growth by refining its go-to-market strategy and better integrating recent product innovations and marketing efforts

** Adds SNOW is well-positioned to benefit from rising AI demand, aided by its strong cloud data platform and focus on simplifying data systems

** 42 of 51 brokerages rate the stock "buy" or higher, 8 "hold" and 1 "sell"; their median PT is $270- data compiled by LSEG

** As of last close, stock has risen 56% YTD

(Reporting by Apratim Sarkar in Bengaluru)

((Apratim.Sarkar@thomsonreuters.com))