Veeva price target raised to $310 from $285 at Raymond James

Raymond James raised the firm’s price target on Veeva (VEEV) to $310 from $285 and keeps an Outperform rating on the shares. Veeva’s Q1 results showed “impressive” billings upside and an improved outlook for the year, executing impressively in a turbulent macro, the analyst tells investors in a research note. Veeva’s historical product success should grant them benefit of the doubt in sustaining a double-digit growth rate for the foreseeable future, the firm argues.