Wells Fargo analyst Michael Turrin lowered the firm’s price target on Twilio to $60 from $70 and keeps an Equal Weight rating on the shares. Twilio concluded it will not sell Segment, removing a key near-term catalyst for shares, the firm says. While buybacks can reduce share count by about 20% this year, single-digit growth and lack of margin expansion suggest shares likely range-bound for now, Wells adds.
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