Braze price target raised to $65 from $50 at Barclays

Barclays analyst Ryan MacWilliams raised the firm’s price target on Braze to $65 from $50 and keeps an Overweight rating on the shares post the Q2 report. The analyst views Braze as a name to benefit from improving artificial intelligence spend as marketers potentially shift back to a growth focus in 2024. The potential for revitalized enterprise budgets, contribution from new AI features, and new channels like WhatsApp could drive upside in fiscal 2025, the analyst tells investors in a research note.