Veeva price target raised to $222 from $210 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Veeva (VEEV) to $222 from $210 and keeps an Underweight rating on the shares. Veeva beat revenue and EPS expectations in Q2 and guided above for Q3, but “the bar was arguably higher” following strong outperformance since the last earnings report and billings performance “may underwhelm,” the analyst tells investors.