finance
Bank of America Starts ServiceNow Coverage with Buy Rating and $130 Target
Bank of America initiated coverage of ServiceNow with a Buy rating and a $130 price target. Analyst Tal Liani stated that the company will benefit from the autonomous agentic AI cycle rather than be displaced by it.
May 18, 11:51 AM·1m read1 source
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Bank of America initiated coverage of ServiceNow with a Buy rating and a $130 price target. Analyst Tal Liani stated that ServiceNow will benefit from the autonomous agentic AI cycle. He noted that replacing the company's entrenched workflow systems would be complex and costly for enterprises.
ServiceNow has recorded cRPO growth above 20 percent for five consecutive quarters. Bank of America projects revenue growth between 18 percent and 22 percent through 2028, with free cash flow margins reaching 37 percent.
Liani said ServiceNow's platform position positions it as the central control point for enterprise AI adoption. The firm views the company's footprint as an advantage over newer AI tools that lack established integration.
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