BofA raised the firm’s price target on ServiceNow (NOW) to $1,200 from $1,110 and keeps a Buy rating on the shares following “outstanding” Q2 results that exceeded expectations on all key growth metrics. The outlook for Q3 backlog growth of 18% was in line with the firm’s estimate, but commentary suggests healthy pipeline builds for the remainder of the year, which could lead to upside, the analyst tells investors.
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