Twilio upgraded to Buy from Hold at Jefferies

Jefferies upgraded Twilio (TWLO) to Buy from Hold with a price target of $160, up from $125. Twilio is “moving up the stack” to capture the voice AI premium, the analyst tells investors in a research note. Jefferies cites its greater conviction in the role Twilio will play in the voice AI tech stack for the upgrade. The firm says even a slight increase in traction can serve as a “sustainable tailwind” for the company’s profit growth for years to come and drive upside to consensus estimates. Twilio’s “greater relevance in an agentic AI world” and better fundamentals can lead to a higher valuation multiple, Jefferies contends.