BUZZ-Oppenheimer cuts <a href="https://laohu8.com/S/NOW">ServiceNow</a> PT as M&A concerns grow** Oppenheimer trims PT on ServiceNow NOW.N to $200 from $230, still a 40.2% upside to stock's last close
** Says stock may face near-term pressure because investors often assign lower valuations to software cos that go on a M&A spree
** Adds NOW's deal spree stokes concerns about organic subscription growth and free cash flow; will likely weigh on NOW's multiples until it shows Moveworks and Armis deal synergies in 2026 quarterly reports
** 43 of 47 brokerages recommend "buy" or higher, 3 "hold" and 1 "sell"; median PT is $220 - data compiled by LSEG
** NOW fell 27.8% in 2025
(Reporting by Arnav Mishra in Bengaluru)
((Arnav.Mishra@thomsonreuters.com;))
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