Wedbush analyst Daniel Ives lowered the firm’s price target on Salesforce to $315 from $325 and keeps an Outperform rating on the shares. The firm notes Salesforce delivered April results which were slightly below Street expectations and gave July guidance a bit softer than expected. Wedbush says Salesforce remains one of its favorite tech names to own over the next year as the AI story starts to take shape. It would be a buyer on weakness as “seeing the forest through the trees this is a turnaround in motion for a premier tech stalwart with a massive installed base led by one of the best CEOs in the global tech landscape.”
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