Bandwidth price target raised to $14 from $13 at Piper Sandler

Piper Sandler raised the firm’s price target on Bandwidth to $14 from $13 and keeps a Neutral rating on the shares. While artificial intelligence is a major tailwind for technology, broad IT spending will remain cautious early in the year but potentially open-up in the second half of 2024, the analyst tells investors in a research note. The firm rolled forward communication software valuations to 2025.