ServiceNow price target lowered to $1,075 from $1,100 at UBS

UBS analyst Karl Keirstead lowered the firm’s price target on ServiceNow (NOW) to $1,075 from $1,100 and keeps a Buy rating on the shares ahead of the Q3 print on October 29. The firm’s checks on the core business were “fine,” pointing in view to a normal beat, but the feedback on AI adoption was somewhat disappointing, the analyst tells investors in a research note. The firm says near-term downside could be limited.