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Fly News Breaks for May 27, 2016
VEEV
May 27, 2016 | 08:09 EDT
Leerink analyst Steven Wardell raised his price target for Veeva to $32 from $27 after the company reported a beat for Q1 and raised guidance slightly for the year. The quarter was "very clean," with the beat and raise attributable to product strength across the board and some non-recurring items, the analyst tells investors in a research note. However, Wardell believes that upside to Veeva's current share price is dependent on further success in newer areas, and reiterates a Market Perform on the shares.
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