ServiceNow reinstated with an Overweight at Barclays

Barclays analyst Raimo Lenschow reinstated coverage of ServiceNow (NOW) with an Overweight rating and $132 price target The company’s Q1 report was impacted by the macro backdrop and is not a “thesis changer,” the analyst tells investors in a research note. Barclays views ServiceNow as one of the best positioned software names. The company’s’ “deep integration into its customers’ IT landscape will make it an integral part of the new AI world,” contends the firm.