BMO Capital analyst Keith Bachman raised the firm’s price target on Salesforce to $230 from $185 and keeps an Outperform rating on the shares. Following three months of internal changes, uncertainty, and low expectations, the company delivered a solid quarter and planted a "meaningful flag" in its direction towards higher profitability, the analyst tells investors in a research note. The firm added that margin improvement at Salesforce will be helped by better-than-expected growth over the next 12-24 months, along with heightened focus on its spending efficiency.
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