JPMorgan Upgrades Twilio (TWLO) to Overweight; 'Confluence of Growth Vectors Aligning'
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(Updated - February 9, 2021 7:09 AM EST)
JPMorgan analyst Mark Murphy upgraded Twilio (NYSE: TWLO) from Neutral to Overweight with a price target of $465.00 (from $300.00).
The analyst comments "We see company-specific tailwinds propelling the business in 2021, including a strengthening Enterprise presence with more CEOs looking to Twilio as a strategic partner for Customer Engagement, rather than just a communications layer. We see Customer Engagement as a major vector for priority spend, and while we’ve recommended our other four names in this category (HUBS, ZI, BAND, CRM) and focused on Twilio for the first multi-bagger period of its existence, our omission of Twilio for the second half of 2020 has been a glaring mistake."
Specific tailwinds we expect to drive solid growth-at-scale for Twilio include:
1) elevated Enterprise presence;
2) eventual improvement in COVID-impacted sectors, including Travel/Rideshare/Hospitality;
3) increasing adoption of two-way messaging;
4) segment acquisition synergies; and
5) early traction with newer products including Flex, Video, and Frontline."
Shares of Twilio closed at $399.51 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Hot Comments, Hot Upgrades, Upgrades
Related EntitiesUBS, JPMorgan, Definitive Agreement
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