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Fly News Breaks for May 26, 2017
VEEV
May 26, 2017 | 06:13 EDT
BofA/Merrill analyst Brad Sills upgraded Veeva to Buy and increased its price target to $70 from $47 following the "strong" Q1 report. The analyst said sustained billing growth of 27%+ over the last 2 quarters gives in him increased confidence the company is in the early innings of a multi-billion dollar revenue opportunity with Vault, supporting a premium valuation.
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