Salesforce price target lowered to $185 from $200 at Stifel

Stifel analyst J. Parker Lane lowered the firm’s price target on Salesforce to $185 from $200 and keeps a Buy rating on the shares ahead of the company reporting fiscal Q3 results after Wednesday’s close. In his talks with five partners in the Salesforce ecosystem over the last couple of weeks, all of them expressed that the macro environment is weighing on purchasing decisions and should contribute to a slower year in 2023, noted Lane, who updated his model to reflect greater uncertainty around the 2023 outlook.