Salesforce price target lowered to $200 from $245 at JPMorgan

JPMorgan analyst Mark Murphy lowered the firm’s price target on Salesforce to $200 from $245 and keeps an Overweight rating on the shares post the Q3 results. Salesforce "joins the long list of elite software vendors who have faced tough quarters and / or issued muted guidance," Murphy tells investors in a research note. The analyst thinks free cash flow per share is the appropriate lens for the company and believed the thesis "should remain intact as Salesforce continues to grow, albeit at a slower rate."