Salesforce price target raised to $350 from $325 at RBC Capital

RBC Capital analyst Rishi Jaluria raised the firm’s price target on Salesforce to $350 from $325 and keeps an Outperform rating on the shares after hosting meetings with its Investor Relations executives. The company’s Data Cloud momentum is solid, with a long runway of growth, the analyst tells investors in a research note, adding that its customers are enthusiastic about GenAI and are turning to Salesforce to help with their AI strategies. Salesforce also believes that Data Cloud remains underpenetrated today and can be a meaningful growth driver long-term, the firm added.