BUZZ - Cloudflare shares rise after JPMorgan upgrades rating to "Overweight"

November 3 - ** Cloud service company Cloudflare (NET.N) shares rose 3.2% in pre-market trading to $273.51

** JPMorgan upgraded its rating from "Neutral" to "Overweight"; the target price remains at $350, implying an upside of nearly 32% from the previous trading day's closing price

** The brokerage noted that after NET's pullback last month, its valuation premium has narrowed, providing an attractive buying opportunity

** JPMorgan stated that momentum in customer growth combined with the strong growth of major customer business has laid the foundation for the company's further expansion in enterprise business

** The average rating from 35 analysts is "Buy"; the median target price is $372.5—data compiled by LSEG

** As of the previous trading day's close, the stock has gained 34.5% for the year

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