BofA raised the firm’s price target on Amplitude (AMPL) to $15 from $13 and keeps a Buy rating on the shares following investor meetings with the CFO and CPO that increased the firm’s confidence. The firm believes that Amplitude’s differentiated platform sets it up to be a long-term share gainer in a $50B-plus digital analytics total addressable market and that the stock’s multiple should be driven higher towards infrastructure software peers as execution continues to improve, the analyst tells investors.
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