Salesforce price target raised to $325 from $300 at Oppenheimer

Oppenheimer raised the firm’s price target on Salesforce to $325 from $300 and keeps an Outperform rating on the shares following a recent conversation with a Salesforce global system integrator. The firm says that partner sees mixed recent business activity but good demand environment; the AI messaging is ahead of product capabilities, pricing and availability; and partner sees Salesforce winning with Sales Cloud and the platform products but the vendor consolidation cycle is entering the later innings. Oppenheimer believes Salesforce remains well-positioned to deliver double-digit revenue growth and 20%-plus EPS growth over a multi-year period, and the stock offers an attractive risk/reward profile at current levels.