Truist raised the firm’s price target on Salesforce (CRM) to $315 from $300 and keeps a Buy rating on the shares. The firm’s initial thoughts are on key topics discussed my the management at Dreamforce, which include Agentforce, Data Cloud, Salesforce + Nvidia (NVDA) strategic partnership and the recently announced Own Co acquisition, the analyst tells investors in a research note. Truist states that while the firm has not changed estimates, it is “incrementally confident” in the continuation of compounding profits and free cash flows at Salesforce. The company’s “highly developed” capital allocation and deployment strategy also supports its increased opportunity for improved subscription revenue growth, the firm added.
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