For weeks after Cerebras Systems (CBRS) went public on May 14, Wall Street analysts largely stayed silent.

That changed this week, which started June 7, when the post-IPO quiet period ended, unleashing a wave of coverage from several brokerages, including Morgan Stanley, which issued its first-ever price target on the AI chipmaker’s stock.

The AI chipmaker went public and soared nearly 70% on the first day, according to The Wall Street Journal. Later, it gave back a chunk of those gains, and then, the moment the post-IPO quiet period expired, several major brokerages hit the tape simultaneously with the same message: buy.

Morgan Stanley led the charge with a price target and a thesis on Cerebras that gets straight to the…