Cerebras Systems Inc. (NASDAQ:CBRS) is one of the 10 Best New Stocks to Buy Other Than SpaceX.

On June 24, 2026, Morgan Stanley raised its price target on Cerebras Systems Inc. (NASDAQ:CBRS) to $273 from $250 and kept an Overweight rating following what the firm called "a strong first quarter out of the gates." Morgan Stanley said the IPO happened recently enough that it expected solid results with no surprises and presumed some IPO conservatism in forecasts. The firm added that better gross margin guidance "certainly indicates a conservative guidance mindset."

Also on June 24, UBS raised its price target on Cerebras Systems to $320 from $300 and kept a Buy rating. UBS viewed Cerebras's first post-IPO earnings call positively after raising guidance and confirmation of an Amazon (AMZN) agreement. The firm also pointed to broader customer diversification and accelerating demand for specialized infrastructure as factors that could support strong growth through the decade, with supply constraints likely becoming the main limitation rather than demand.

Wedbush also raised its price target on Cerebras Systems to $280 from $270 and kept an Outperform rating. Wedbush said Cerebras reported results ahead of initial expectations with no major surprises, while ongoing engagements with large customers support a constructive outlook.

Cerebras Systems Inc. (NASDAQ:CBRS) operates as an artificial intelligence infrastructure company, designing and manufacturing an AI compute platform made up of proprietary systems and software for deployment in data centers up to supercomputer scale.

While we acknowledge the potential of CBRS as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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