Jefferies upgrades Twilio with a $160 target, citing strong growth in Voice AI technology.

Jefferies analysts upgraded Twilio from 'Hold' to 'Buy' and raised the price target to $160, highlighting the company's strong position in the emerging Voice AI market. Voice AI, which enables automated conversational voice interactions, is expected to become essential for businesses scaling customer engagement. Jefferies projects that Voice AI could account for 6% of Twilio's voice call volume by 2028, driving voice revenue to $1.15 billion and boosting gross profit and margins. Despite a recent share decline, Jefferies sees significant growth potential and improved fundamentals supporting a higher valuation.