The Fly

Salesforce price target lowered to $200 from $210 at BofA

BofA analyst Brad Sills lowered the firm’s price target on Salesforce to $200 from $210 and keeps a Buy rating on the shares. Salesforce reported better than expected results for Q3, though the topline outlook for Q4 was "disappointing" owing to increased macro pressure, Sills tells investors in a research note. The analyst is "encouraged" by Salesforce’s raised margin outlook for FY23 and says that while the departure of co-CEO Bret Taylor is unexpected, the analyst does not expect disruption to sales productivity efforts with COO Brian Millham in place.

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