Twilio price target raised to $83 from $69 at Piper Sandler

Piper Sandler raised the firm’s price target on Twilio to $83 from $69 and keeps an Overweight rating on the shares. The company reported upside in Q4, but more importantly, management sees $300M in EBIT in 2023 and a path for 3%-4% annual margin expansion in 2025 and beyond, the analyst tells investors in a research note. The firm says Twilio remains its favorite "self-help" name, with a renewed focus on profitability, call option around Software, and reasonable valuation.