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Fly News Breaks for January 16, 2019
VEEV
Jan 16, 2019 | 16:13 EDT
Stephens analyst James Rutherford initiated Veeva with an Equal Weight rating and a price target of $113, citing the company's "unique combination of technology excellence and industry expertise". The analyst is also positive on its "life sciences end market and lack of cyclicality", along with the company's potential outside of that field. In spite of these positive dynamics, Rutherford believes that valuation on Veeva is "a bit stretched" at current levels.
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