Canaccord lowered the firm’s price target on Salesforce (CRM) to $350 from $400 and keeps a Buy rating on the shares. The firm noted they announced its third largest acquisition ever, proposing to buy Informatica for $25.00/share in cash, which amounts to about $8B in equity value, net of Salesforce’s current investment in the company. Management expects the deal should be accretive to non-GAAP operating margins, EPS, and FCF starting in the second year following close, which is dependent on both cost synergies and revenue uplift.
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