Jonas Valanciunas and Amir Johnson scored 15 points apiece for Toronto, and Jose Calderon had 11, while matching Lowry's seven assists. Bargnani was 6 of 12 from the field, including 3 for 4 from 3-point range.
Memphis led 66-59 at halftime behind 13 points from Bayless, while Bargnani scored 13 for the Raptors.
Toronto didn't take its first lead until midway through the third. The Raptors outscored Memphis 32-21 in the period.
Who are the best NBA prospects in the 2017 draft class? Chad Ford gives his top five and previews the big storylines to watch for next year.
By trading former team cornerstone Serge Ibaka, the Thunder hope to strengthen their case to keep Kevin Durant in Oklahoma City.
Blake Griffin and Chris Paul are progressing in their respective recoveries after they suffered playoff-ending injuries, coach Doc Rivers said Thursday.