Morgan Stanley analyst Keith Weiss raised the firm’s price target on Salesforce to $240 from $236 and keeps an Overweight rating on the shares. Salesforce’s "pursuit of profitable growth gains significant momentum" after Q4 fundamentals that exceeded consensus and FY24 growth and operating margins guided "well ahead" of investor expectations, the analyst tells investors. The current share price does not reflect the firm’s forecasted greater than 20% compound annual EPS growth rate through FY26, the analyst added.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on CRM:
- Salesforce price target raised to $225 from $218 at Macquarie
- Salesforce price target raised to $230 from $200 at JPMorgan
- Salesforce price target raised to $225 from $195 at Barclays
- Salesforce price target raised to $200 from $140 at Atlantic Equities
- Elliott says Salesforce’s announcements represent ‘progress’
