Life360 initiated with a Buy at BofA

BofA initiated coverage of Life360 (LIF) with a Buy rating and $60 price target The firm sees a long runway for sustained user growth for Life360, citing the company’s leadership in the fast-growing family safety category. BofA also believes the Street is “underestimating the potential acceleration in Paying Circles net adds and MAUs that the recently launched Pet Tracker, and to be launched Uber Integration and Elderly Tracker, could drive.”