- RingCentral (NYSE:RNG) and Twilio (NYSE:TWLO) finished the day higher - up 2.6% and up 0.8% respectively - after drawing some praise from Morgan Stanley.
- After channel checks, the firm included RingCentral in a list of its high-conviction choices going into the upcoming earnings season.
- It rates the stock Overweight with a price target of $420, now implying 9% upside.
- As for Twilio, there were positive takeaways from its sessions at the National Retail Federation show that pointed out the need for retail to accelerate its digital engagement investments, and provide "hyper personalization" as part of an enhanced customer experience.
- That's a key part of the firm's bull thesis on Twilio. It has a $370 price target (which has been outrun as Twilio's gained nearly 15% year-to-date).