Salesforce price target raised to $350 from $300 at BofA

BofA raised the firm’s price target on Salesforce to $350 from $300 and keeps a Buy rating on the shares, citing expected Q4 current remaining performance obligation, or cRPO, upside after having spoken to nearly a dozen key Salesforce partners. The channel feedback suggests deal activity has been holding with recently healthy levels, which suggests that the spending backdrop has improved, though sales cycles remain challenging, the analyst tells investors.