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Braze price target raised to $45 from $40 at Mizuho

Mizuho raised the firm’s price target on Braze (BRZE) to $45 from $40 and keeps an Outperform rating on the shares. The company reported a fiscal Q2 beat on broad-based demand strength and better than expected down-sell moderation, the analyst tells investors in a research note. The firm says Braze’s operating margin of 3.4% exceeded the consensus estimate of 0.7%, which should alleviate investor concerns on margin expansion.

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