RBC Capital lowered the firm’s price target on ServiceNow (NOW) to $986 from $1,210 and keeps an Outperform rating on the shares. The company’s acquisition of agentic AI assistant provider Moveworks for $2.85B accelerates its agentic roadmap and is complementary and not a negative reflection of ServiceNow’s current agentic capabilities, the analyst tells investors in a research note. RBC adds however that its price target cut on ServiceNow reflects peer-multiple compression.
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Read More on NOW:
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- AI Daily: Apple delays Siri AI update, ServiceNow buying Moveworks
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