Shares of Salesforce (NYSE:CRM) are lower today. This can be attributed to a “negative catalyst watch” from analyst Tyler Radke of Citi, who has a Hold rating on the stock. Interestingly though, he raised his price target from $164 per to $182 per share, citing higher margin potential.
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Nevertheless, Radke remains cautious as he sees signs of slowing demand. In addition, CRM’s year-to-date rally may have already priced in margin upside, suggesting that a pullback may be in the cards for the near term.
Overall, Wall Street analysts have a consensus price target of $190.77 on CRM stock, implying over 16% upside potential, as indicated by the graphic above.