KeyBanc analyst Brent Bracelin raised his price target for Twilio to $114 from $103 as he sees multiple upside levers to consensus growth of 31% in 2019. The analyst notes that accelerating revenue growth and improving profitability, coupled with multiple expansion, contributed to the shares more than tripling last year. While further multiple expansion is less likely in 2019, growth fundamentals remain strong and could warrant additional price appreciation on increasing CPaaS usage across 2M-plus developers and broader enterprise penetration, he contends. Bracelin reiterates an Overweight rating on the shares.