ServiceNow stock price target raised by 17%, Citi maintains Buy rating amid resilient business outlook By Investing.com
On Thursday, Citi maintained its Buy rating on ServiceNow (NYSE: NYSE:), while increasing the stock’s price target to $1,068 from $915. The adjustment reflects the firm’s confidence in ServiceNow’s ability to navigate through an uncertain IT budget landscape. Citi’s analysis suggests that ServiceNow’s core business remains strong and is likely to benefit from the additional high-return opportunities presented by its GenAI upsell.
The firm’s recent fieldwork indicates solid demand for ServiceNow’s GenAI/Pro Plus offerings and a decrease in concerns regarding delayed deals. Although ServiceNow’s stock has seen a significant 26% increase since the last earnings report, Citi acknowledges that the company has not engaged in any major…
