Twilio upgraded to Overweight from Equal Weight at Morgan Stanley

Morgan Stanley analyst Meta Marshall upgraded Twilio (TWLO) to Overweight from Equal Weight with a price target of $160, up from $144. The firm is increasingly confident in crediting Twilio’s execution toward double-digit growth and operating margin outperformance on back of increased cross-sell, supported by its recent channel checks. The analyst sees the recent 20% selloff in the shares as overdone, providing an attractive entry point. Recent checks and Twilio’s exit growth rate from Q4 provide confidence in the company’s ability to execute the model laid out at its analyst day, the analyst tells investors in a research note.