Raymond James initiated coverage of ServiceNow (NOW) with an Outperform rating and $1,200 price target The firm, which believes ServiceNow’s unique growth at scale drives “a popular concern regarding durability,” attempts to balance its positive long-term view on the business with an acknowledgement that near-term valuation is “challenging,” the analyst tells investors. However, the firm sees the relative valuation multiple holding as total company growth in the 20% range “should power the stock to outperform if this holds true,” the analyst added.
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Read More on NOW:
- ServiceNow price target raised to $1,200 from $1,000 at Canaccord
- ServiceNow price target raised to $1,175 from $990 at Stifel
- ServiceNow price target raised to $1,225 from $1,010 at Wolfe Research
- Broadcom tops $1T market cap on AI enthusiasm: Morning Buzz
- Salesforce upgraded, ServiceNow downgraded: Wall Street’s top analyst calls
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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