Morgan Stanley Sees Growing Opportunity Set for ServiceNow

In a report published Tuesday, Morgan Stanley analyst Jennifer Swanson Lowe reiterated an Overweight rating and $76.00 price target on

. In the report, Morgan Stanley noted, “Analyst Day highlighted opps. in both core ITSM and in newer areas like ITOM and ESM. NOW's TAM is expanding while new sales hires should drive revenue, and we still see NOW as one of the best growth stories in software despite the recent pullback in the stock.” ServiceNow closed on Monday at $46.42.