Canaccord raised the firm’s price target on Twilio to $90 from $75 and keeps a Buy rating on the shares. The firm believes the macro headwinds that impacted Twilio’s revenue growth in 2023 will persist in 1H/24, but they anticipate steadily improving trends throughout 2024 with improving profit levels and given the recent increase in software multiples combined with confidence in increasing profit levels, they increased their price target.
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