Salesforce price target raised to $265 from $247 at Citi

Citi analyst Tyler Radke raised the firm’s price target on Salesforce to $265 from $247 and keeps a Neutral rating on the shares. The analyst says the company reported “impressive upside in a tough environment.” While the reported upside was noteworthy, the biggest drivers were nonoperational, as Salesforce benefited from early renewals and favorable timing of a mega multi-year deal with Amazon Web Services, the analyst tells investors in a research note.