Loop Capital analyst Yun Kim raised the firm’s price target on Salesforce to $245 from $230 and keeps a Hold rating on the shares. The company’s Q3 results and outlook suggest that the demand environment is stabilizing, with certain parts of its business related to Generative AI showing signs of acceleration, the analyst tells investors in a research note. Salesforce also continues to generate a strong margin upside, which is especially more impressive in the context of the stabilizing business trends, the firm states, adding however that it remains at neutral pending more concrete signs of accelerating business trends.
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