Braze initiated with a Buy at Stifel

Stifel initiated coverage of Braze (BRZE) with a Buy rating and $37 price target The company is well positioned to capture share in the customer engagement software space, and has built a leading-edge multi-channel marketing platform that is difficult to replicate, the analyst tells investors in a research note. The firm sees “numerous ways Braze is actively lowering customer friction” and thinks the company remains in its early days of capturing its addressable market.