Klaviyo price target raised to $55 from $45 at KeyBanc

KeyBanc raised the firm’s price target on Klaviyo (KVYO) to $55 from $45 and keeps an Overweight rating on the shares. The firm says that a strong end of the year should beget another strong year in 2025 with the key fundamental driver being strength in the enterprise and a stabilization in the lower end. The quarter got a little extra help from some of the contracting changes that went into effect last April, but most of the mid-single-digit benefit was baked into guidance as it was, KeyBanc adds.