Twilio price target raised to $77 from $70 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Twilio (TWLO) to $77 from $70 and keeps an Equal Weight rating on the shares after the company reported a “strong” Q3, returning to double-digit revenue growth with continued operating leverage. The outlook for 2025 is “looking more reasonable” and the firm sees room on valuation, but needs to gain more comfort on forward growth outlook, the analyst tells investors.