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ServiceNow (NOW +5.1%) jumps on underwriter coverage day. Citi (Buy) praises ServiceNow's...

ServiceNow (NOW +5.1%) jumps on underwriter coverage day. Citi (Buy) praises ServiceNow's differentiated, cloud-based approach to systems management software, and sees a giant untapped opportunity in IT services management (ITSM). Deutsche (Buy) sees potential in both ITSM and the company's cloud app development platform, which competes with Salesforce's Force.com. Morgan Stanley (Equal Weight), however, is cautious due to a steep valuation. (IPO gains)
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