Twilio price target raised to $60 from $55 at Wells Fargo

Wells Fargo raised the firm’s price target on Twilio to $60 from $55 and keeps an Equal Weight rating on the shares. The firm notes Q3 was better than feared, including 2nd straight quarter of volume stabilization plus margin upside, but fading key metrics make tough to tell where model settles. Sentiment and valuation are low, but Wells stays on the sidelines.