Braze price target raised to $46 from $39 at Scotiabank

Scotiabank raised the firm’s price target on Braze to $46 from $39 and keeps a Sector Perform rating on the shares. Feedback from three Braze partners ahead of the earnings report tilted constructive on better Q2 performance, and there is significant optimism looking into the the second half of the year, the analyst tells investors in a research note. The firm sees upside to Braze estimates “across the board,” most notably on billings, and it expects a modest raise to the fiscal 2024 guidance.