JPMorgan upgrades Twilio with $465 target on 'company-specific tailwinds'
JPMorgan analyst Mark Murphy upgraded Twilio to Overweight from Neutral with a price target of $465, up from $300. The analyst sees "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. The company's elevated enterprise presence, an eventual improvement in COVID-impacted sectors, increasing adoption of two-way messaging, segment acquisition synergies and early traction with newer products should drive "solid growth-at-scale," Murphy tells investors in a research note.