Morgan Stanley maintains an Equal-Weight rating on Veeva Systems (NYSE:VEEV) but raises the target from $150 to $154.
The firm left the analyst day event “confident in having new visibility in the longer-term trajectory.”
Morgan sees “a long runway of growth,” which is
priced in at this level. The firm notes that while VEEV’s 2025 target
for operating margins was below Morgan’s expectations, that was a case
of management “being typically conservative and leaving themselves room
to make opportunistic investments.”
More action: Canaccord Genuity (Hold, $155) says
the event “reinforced many of the positive attributes that underpin our
favorable view of the firm’s fundamentals.”
VEEV shares closed yesterday down 2.5% to $151.06. The company has an Outperform average Sell Side rating.
https://seekingalpha.com/news/3503664-analysts-cautiously-optimistic-veeva-event
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