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Twilio price target lowered to $100 from $140 at TD Cowen

TD Cowen lowered the firm’s price target on Twilio (TWLO) to $100 from $140 and keeps a Hold rating on the shares. The firm expects modest upside to 1Q but sees risk to guide off of macro developments. The company is among the more macro-sensitive companies in their coverage due to its consumption model, use-cases that fall into discretionary marketing budgets and large international exposure.

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