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Klaviyo price target raised to $45 from $40 at Truist

Truist analyst Terry Tillman raised the firm’s price target on Klaviyo (KVYO) to $45 from $40 and keeps a Buy rating on the shares. The company’s Q2 represented another strong quarter in terms of profitable growth at scale, reflected in over 30% top-line growth and notable profit and cash flow upside, the analyst tells investors in a research note. Klaviyo benefits from value proposition of being a mission critical digital engagement and revenue generating platform for brands, the firm added.

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