Veeva price target lowered to $204 from $240 at BofA

BofA analyst Brad Sills lowered the firm’s price target on Veeva to $204 from $240 and keeps a Neutral rating on the shares following “mixed” Q1 metrics and a challenging macro backdrop that prompted a lower FY25 subscription outlook. The firm believes near term upside is largely priced in, especially in light of risks, the analyst tells investors.