Veeva price target raised to $207 from $197 at Truist

Truist raised the firm’s price target on Veeva to $207 from $197 and keeps a Hold rating on the shares. The firm is updating its model after the company’s Q2 earnings beat, the analyst tells investors in a research note. Given the slowdown in growth rates, apprehension around the Veeva CRM to Vault migration, and its first foray into markets with entrenched incumbents, Truist sees mid teens top-line growth over a multi-year period, coupled with mid-30’s operating margins.