Twilio Gains as JPMorgan Raises Target and Index Demand Continues
Twilio shares rose 5.5% as a higher JPMorgan price target and demand linked to its S&P 500 inclusion supported the stock.
Key takeaways
- Twilio shares rose 5.5% in afternoon trading.
- JPMorgan Chase raised its price target on Twilio.
- The company’s S&P 500 inclusion continued to support institutional demand.
Twilio shares rose 5.5% in afternoon trading after JPMorgan Chase raised its price target. Continued institutional demand following the company’s addition to the S&P 500 also supported the stock.
Index-tracking funds buy shares to match the benchmark, TipRanks reported. Higher valuation expectations reflected in JPMorgan’s target and optimism about Twilio’s AI communications strategy also contributed to the move.
The rise came as technology shares rebounded from selling the previous day. Reuters tied that pressure to an OpenAI revenue report that unsettled investors over near-term AI monetization, while CNBC reported that the S&P 500 and Nasdaq moved higher at Friday’s open.
This article was produced with the help of AI technology. Source: Yahoo Finance
