JPMorgan lowered the firm’s price target on Braze (BRZE) to $32 from $45 and keeps an Overweight rating on the shares. The firm says favorable replacement cycle industry trends and improving fundamentals support a buy rating on the shares. Braze’s valuation offers room for multiple expansion, the analyst tells investors in a research note. JPMorgan cut the price target to reflect risk of AI-driven disruption for the sector.
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