Twilio price target raised to $68 from $58 at Bernstein

Bernstein raised the firm’s price target on Twilio to $68 from $58 and keeps a Market Perform rating on the shares. What might have looked like a beat and then a “LARGE” quarter-over-quarter guide down, was actually a couple divestitures hiding what appears to be slightly optimistic guide — when taken in the context that on an adjusted basis it is the highest quarterly revenue guide the company has ever had, the firm says.