Salesforce price target lowered to $330 from $360 at Loop Capital

Loop Capital analyst Yun Kim lowered the firm’s price target on Salesforce (CRM) to $330 from $360 and keeps a Hold rating on the shares as part of a broader research note on Software. The firm’s most recent checks with large global system integrator contacts indicate somewhat of a lackluster start to the beginning of the year despite positive optimism going into the year, and so far, there has not been any meaningful pick-up in the overall pace of new large-scale IT initiatives, leading to a sizable bench of unstaffed consultants, the analyst tells investors in a research note.