Stifel analyst Brad Reback raised the firm’s price target on ServiceNow to $650 from $640 and keeps a Buy rating on the shares after the company posted “strong” Q3 results and raised FY23 subscription guidance by more than the beat. The stock remains a top-pick and a core software holding, says Stifel, which sees ServiceNow being well positioned to sustain 20%-plus growth given its expanding, AI-infused, product-portfolio.
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