Citi analyst Tyler Radke raised the firm’s price target on Salesforce to $182 from $164 and keeps a Neutral rating on the shares. The analyst is "tactically cautious" on Salesforce into the Q4 results, saying partner checks indicate further signs of slowing demand from Q3 levels, "shelfware" issues and overall front office fatigue. This could limit upside to growth metrics in Q4 and the initial fiscal 2024 outlook, the analyst tells investors in a research note. Citi also opened a "30-day negative catalyst watch" on shares of Salesforce into the print.
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Published first on TheFly
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