Salesforce price target raised to $275 from $240 at Evercore ISI

Evercore ISI raised the firm’s price target on Salesforce to $275 from $240 and keeps an Outperform rating on the shares. Salesforce delivered “a solid print,” highlighted by “modest” top line outperformance and “another significant bottom line beat that came in well ahead of expectations,” the analyst tells investors. The firm, which believes the quarter helps illustrate the durability of Salesforces free cash flow per share growth story, adds that it thinks the revenue guidance raise for FY24 was “encouraging in that the demand environment remains fairly consistent.”