Life360 price target raised to $58 from $54 at Canaccord

Canaccord raised the firm’s price target on Life360 (LIF) to $58 from $54 and keeps a Buy rating on the shares. Internet stocks saw a boost from the election result, with investors seemingly expecting artificial intelligence deregulation, a more favorable backdrop for acquisitions, a lower corporate tax rate, and, in some cases, increased demand for American-made goods, should some of the proposed tariff policies be implemented, the analyst tells investors in a research note. The firm says that while Life360’s multiple has expanded over 50% since its U.S. initial public offering, it sees a strong possibility for estimates to increase in fiscal 2025 as the company drives further penetration of international markets and scales its advertising business.