BUZZ-Veeva System down after KeyBanc downgrades to "SectorWeight"
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Shares of Veeva Systems fell about 3% to $223.74 premarket after KeyBanc downgraded the stock to 'SectorWeight' from 'OverWeight'. KeyBanc cited that large pharma clients are favoring Salesforce's offerings and noted a migration of small- and medium-sized business customers to Salesforce. Despite this, 22 of 34 brokerages rate the stock as 'buy' or higher, with a median price target of $320. The stock is up 9% year-to-date.
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