Braze price target lowered at Raymond James, says pullback a buying opportunity

Raymond James lowered the firm’s price target on Braze (BRZE) to $43 from $48 and keeps an Outperform rating on the shares. Braze’s Q1 results exceeded expectations, though the magnitude of the upside and guidance may cause some near-term “indigestion,” the analyst tells investors in a research note. Raymond James view management’s move to de-risk the forward guide as providing a better setup for shares in future quarters, and believes the 9% pullback is a buying opportunity.