BUZZ-ServiceNow dips; TD Cowen cuts PT on acquisition concerns

-2.53%

ServiceNow, Inc.

NOW

139.03

-2.53%

** Software provider ServiceNow's NOW.N shares fall 1.4% to $152.20

** TD Cowen cuts PT to $230 from $250, still an upside of 49% to stock's last close

** Brokerage concerned about "NOW moving away from just tuck-ins to large M&A w/ beefy valuations, which questions health of organic growth & new integration risks"

** On Tuesday, NOW agreed to buy cybersecurity startup Armis for $7.75 bln

** Avg rating of 47 analysts is "buy;" their median PT is $230 - data compiled by LSEG

** Up to last close, stock has fallen 27.2% this year

(Reporting by Anhata Rooprai in Bengaluru)

((Anhata.Rooprai@thomsonreuters.com))

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