BMO Capital analyst Keith Bachman raised the firm’s price target on ServiceNow to $500 from $475 and keeps an Outperform rating on the shares after its Q4 earnings beat. There will be some investor disappointment due to the miss in the CRPO – or current remaining performance obligations – metric, but the larger picture for the quarter and the outlook reflects the company’s steady growth and free cash flow generation, the analyst tells investors in a research note. BMO Capital adds that these present an "attractive story in today’s uncertain macro", also citing ServiceNow’s high competitive moat helping to sustain its growth.
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