Freedom Capital initiated coverage of Cerebras Systems with a Hold rating and $209 price target. In recent days, Cerebras has traded as low as $161, and the stock plunged 29% after the company reported Q1 results last week, the analyst tells investors in a research note. The firm said it hadn't been interested in the name before this "carnage," but now sees it as a buying opportunity, despite some "significant" operational risks.
