ServiceNow price target raised to $1,040 from $950 at Morgan Stanley

Morgan Stanley analyst Keith Weiss raised the firm’s price target on ServiceNow (NOW) to $1,040 from $950 and keeps an Equal Weight rating on the shares. ServiceNow’s positioning within front office workflows and the broadening opportunity is solidifying, while favorable FX moves and M&A modestly lower the bar for fiscal 2025 reported numbers, the analyst tells investors in a research note. Morgan Stanley says the opportunity looks priced in.