Salesforce upgraded to Outperform from Neutral at Baird

Baird upgraded Salesforce to Outperform from Neutral with a price target of $300, up from $240. The firm says it underestimated the company’s willingness to deliver margins, which drove strong performance last year. With the stock’s current valuation near historical lows and sales growth and expectations “muted,” Baird sees upside from current levels, the analyst tells investors in a research note. The firm believes price increases, the potential return of front office spend, and “crisper” sales execution should drive upside for Salesforce shares.