Veeva price target raised to $268 from $230 at Truist

Truist raised the firm’s price target on Veeva (VEEV) to $268 from $230 and keeps a Hold rating on the shares ahead of the company’s quarterly report on August 27. Given the favorable commentary from Doximity (DOCS) n not seeing any slowdown in its end markets and Iqvia (IQV) from its pharma tech and analytics discretionary spend perspective, the firm believes results for Veeva are likely to come in in-line or better. However, with the shares up roughly 20% since the Q1 report, Truist believes investor expectations are already for a slight “beat and raise,” the analyst tells investors in a research note.