Citi likes ‘industrial logic’ of ServiceNow buying Armis

Group 1 - The core viewpoint is that Citi appreciates the "industrial logic" behind ServiceNow's acquisition of Armis, which enhances its AI Control Tower with predictive security features [1] - Despite being ServiceNow's largest acquisition to date, Citi does not consider the deal to be "transformative" [1] - Citi maintains a Buy rating on ServiceNow shares, projecting a price target of $250.60, and expects the company to achieve 20% organic subscription growth [1]