Veeva price target raised to $273 from $256 at Citi

Citi analyst Tyler Radke raised the firm’s price target on Veeva to $273 from $256 and keeps a Buy rating on the shares. The firm, which is “more optimistic” into Q2 results with read-throughs from Life Science peers showing stable to improving demand trends, notes that its conversations with a Veeva partner “showed more resiliency and broad-based demand across Veeva’s suite of products.” The firm remain buyers of Veeva, citing good visibility on durable double-digit top-line growth with a long R&D growth runway, the analyst adds in a preview note.