Salesforce price target raised to $290 from $260 at Citi

Citi raised the firm’s price target on Salesforce to $290 from $260 and keeps a Neutral rating on the shares. The firm heads into the company’s Q2 results with a “relatively balanced view.” While partner inputs remain cautious and there is risk of slowing in the second half of 2024, Q2 consensus estimates look achievable, with slightly more favorable currency de-risking the fiscal 2025 revenue guidance, the analyst tells investors in a research note. The firm believes incremental currency improvements should offset any organic underperformance at Salesforce.