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Fly News Breaks for January 30, 2018
VEEV
Jan 30, 2018 | 07:16 EDT
As previously reported, Morgan Stanley analyst Stan Zlotsky upgraded Veeva to Overweight from Equal Weight, citing its underappreciated gross margin opportunity. Veeva's gross renewal rates are best-in-class and he does not expect that to change, said Zlotsky, who estimates the company can drive up its blended gross margin to 79% by FY33 from 72% today. The analyst increased his price target on Veeva shares to $72 from $69.
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