Salesforce price target lowered to $300 from $325 at Stifel

Stifel lowered the firm’s price target on Salesforce (CRM) to $300 from $325 and keeps a Buy rating on the shares ahead of Dreamforce taking place in San Francisco next week. Shares have “failed to gain any momentum” year-to-date, notes the analyst, who sees the event as an opportunity for Salesforce to showcase Agentforce traction in its first year post-launch. While it is “difficult to see sentiment turning on a dime,” the firm believes constructive commentary at the event can help bring greater clarity to the company’s AI positioning and set the stage for second half earnings.