Salesforce price target raised to $180 from $150 at DA Davidson

DA Davidson raised the firm’s price target on Salesforce to $180 from $150 but keeps a Neutral rating on the shares. The company’s stronger-than-expected growth, cost cuts flowing to the margin guidance, steady buybacks, and strong guidance should "help defang" the activist argument that Salesforce is not making sufficient progress, the analyst tells investors in a research note. The firm adds however that the positives will be priced into the stock at the open and that the spending environment will still get harder for Salesforce.