Klaviyo price target raised to $45 from $42 at KeyBanc

KeyBanc raised the firm’s price target on Klaviyo (KVYO) to $45 from $42 and keeps an Overweight rating on the shares. The firm updated its terminal multiple for Klaviyo to better reflect “strong” momentum within the company and the broader software universe. KeyBanc’s Overweight rating is based on its 10-year discounted cash flow and FCFF/share analysis, the analyst tells investors in a research note.