Loop Capital upgrades Snowflake to buy, sees possible 33% rebound after stock drops more than 30%

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Jesse Pound@/in/jesse-pound@jesserpound
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A banner for Snowflake is displayed on its IPO day at the New York Stock Exchange on September 16, 2020.
Brendan McDermid | Reuters

The pressure on tech stocks in recent months has gone too far when it comes to Snowflake, according to Loop Capital Markets.