Bank of America upgrades Twilio to Buy, citing AI-driven growth and stronger fundamentals.

Bank of America upgraded Twilio Inc from 'Underperform' to 'Buy' and raised its price target from $110 to $190, highlighting the company's strong position in AI-driven communications. The bank sees Twilio as a key platform for future AI applications, especially in voice and messaging, expecting accelerating growth in gross profit and expanding free cash flow margins. Upcoming catalysts include Twilio's quarterly earnings on April 30 and its annual Signal event in early May, which could provide further growth signals. The upgrade reflects increased confidence in Twilio's products, competitive edge, and margin improvement potential.