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CRM

Salesforce

$68.42

-4.21 (-5.80%)

, TWTR

Twitter

$24.87

1.35 (5.74%)

07:33
10/06/16
10/06
07:33
10/06/16
07:33

Salesforce acquisitions fears lowered but not eliminated, says MKM Partners

MKM Partners analyst Kevin Buttigieg said Salesforce (CRM) CEO Mark Benioff did not completely dispel investor fears of a Twitter (TWTR) acquisitions but likely dispelled their worst fears, indicating shares will likely firm near-term. Buttigieg believes Salesforce's message was that any asset has a price and the company is likely to bid for Twitter, but at a valuation much less than investors have previously feared and likely below the current share price. The analyst said either way, the likelihood of a Twitter acquisition has been reduced, but not eliminated, and any deal consummation will result in a negative share reaction for Salesforce shares given investor fears of a decline in Twitter's business and lack of a strategic fit. Buttigieg rates Salesforce a Buy with a $93 price target on shares.

CRM

Salesforce

$68.42

-4.21 (-5.80%)

TWTR

Twitter

$24.87

1.35 (5.74%)

  • 30

    Nov

CRM Salesforce
$68.42

-4.21 (-5.80%)

10/05/16
STFL
10/05/16
NO CHANGE
Target $93
STFL
Buy
Stifel still sees Salesforce acquisition of Twitter as 'highly unlikely'
Stifel analyst Tom Roderick notes that Salesforce (CRM) kicked off its annual Dreamforce User Conference yesterday amid reports that the company may be a potential suitor for Twitter (TWTR). The analyst still believes that a Salesforce acquisition of Twitter is "highly unlikely," both from a logistical standpoint and from a business model fit perspective. Regarding fundamentals, Roderick continues to view Salesforce as a leading driver of the enterprise shift to the Cloud, and sees no reason why that shouldn't continue to play out in the second half of 2017, in spite of recent concerns about the mid-year slowdown. He reiterates a Buy rating and $93 price target on Salesforce's shares.
10/05/16
JPMS
10/05/16
NO CHANGE
Target $95
JPMS
Overweight
JPMorgan backs Overweight rating on Salesforce as Twitter speculation gears up
JPMorgan analyst Mark Murphy noted that speculation that Salesforce (CRM) could buy Twitter (TWTR) has ratcheted up into a higher gear, fueled by the latest report from the WSJ, and acknowledges the risk of a setback if the company goes forward with such a transformational M&A deal. However, he still views Salesforce as a "rare cloud asset" that can be a long-term share gainer and keeps an Overweight rating and $95 price target on the shares.
10/06/16
SBSH
10/06/16
NO CHANGE
Target $89
SBSH
Buy
Citi says Salesforce buying Twitter 'nearly impossible' above $28/share
Citi analyst Walter Pritchard believes a Salesforce (CRM) acquisition of Twitter (TWTR) is possible financially but that such a deal would put "significant constraints" on the company for the next three-plus years. The analyst sees "very little reason" for Salesforce to own Twitter and feels the acquisition "would pose a difficult decision" for CEO Marc Benioff and the board. Salesforce closed yesterday down 6%, or $4.21, to $68.42. Recode reported last night that the company is likely the only bidder left for Twitter after Disney (DIS) and Alphabet (GOOG) opted not to pursue a deal while Apple (AAPL) is unlikely. Twitter in pre-market trading is down 14% to $21.50. In order for Salesforce to avoid a shareholder vote, it would have to borrow $7.5B to fund the transaction if Twitter were valued at $20B, or $27.50-$28 per share, Pritchard tells investors in a research note. This is a level that likely constrains the company with little additional borrowing capacity for other deals, the analyst contends. He thinks the deal is "nearly impossible to do" for Salesforce should the bidding for Twitter go above $20B or $28 per share. Pritchard has a Buy rating on Salesforce with an $89 price target.
10/06/16
JEFF
10/06/16
NO CHANGE
Target $80
JEFF
Hold
Jefferies sees Twitter deal cutting Salesforce share value
Jefferies analyst John DiFucci estimates that a Twitter (TWTR) acquisition would reduce Salesforce (CRM) share value by $11.26 while increased debt would reduce the value by $9.50 to $20, depending on the price paid. The rationale for pursuing Twitter is unclear, DiFucci tells investors in a research note. Assuming no value for Twitter, dilution would reduce the value of Salesforce shares by $11.26 while increased debt would be at least another $9.50 reduction, the analyst contends. Including the value of Twitter, the analyst sees the value of Salesforce in the $60.29 to $70.70 per share range. DiFucci keeps a Hold rating on Salesforce.
TWTR Twitter
$24.87

1.35 (5.74%)

10/05/16
BOFA
10/05/16
NO CHANGE
Target $100
BOFA
Buy
Salesforce acquisition of Twitter 'quite low,' says BofA/Merrill
BofA/Merrill analyst Kash Rangan said the probability of Salesforce (CRM) acquiring Twitter (TWTR) is "quite low." The analyst does not believe Salesforce would materially dilute its shareholders with such a risky deal and expects the CEO to provide clarity on the thought process behind core software acquisitions versus media at today's Q&A session. Rangan rates Salesforce a Buy with a $100 price target on shares.
10/05/16
BMOC
10/05/16
NO CHANGE
BMOC
Outperform
BMO says Salesforce's positive messages overshadowed by Twitter speculation
BMO Capital analyst Keith Bachman said the positive themes laid out by Salesforce (CRM) management at the company's Dreamforce event, such as guidance to reach $10B in FY18 revenues without inorganic sources of revenue, would traditionally help the stock. However, news reports, including the most recent from the Wall Street Journal, indicating that the company may buy Twitter (TWTR), will outweigh the "positive messages" of the event. If Salesforce were to buy Twitter, the stock would move meaningfully lower, Bachman predicted, but he also wonders if strategic buyers would then potentially consider buying Salesforce. The firm keeps its Outperform rating on Salesforce shares.

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QRVO

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TV

Grupo Televisa

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LIFE

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AGU

Agrium

$99.37

-1.19 (-1.18%)

, AAL

American Airlines

$46.28

0.18 (0.39%)

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AGU

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AAL

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ABX

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$19.54

-0.12 (-0.61%)

AEM

Agnico Eagle

$45.32

-0.06 (-0.13%)

ANTO

Use ANFGY

BLT

Blount

CCO

Clear Channel Outdoor

$4.65

0.1797 (4.02%)

FCX

Freeport McMoRan

$13.25

-0.23 (-1.71%)

FNV

Franco-Nevada

$65.89

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GEM

Pepsi-Gemex ADR

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GG

Goldcorp

$16.57

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HBM

Hudbay Minerals

$8.00

0.25 (3.23%)

IVN

trades under IVPAF

NUE

Nucor

$60.86

-0.03 (-0.05%)

PDL

Project Design Labs

POT

Potash

$17.87

-0.2 (-1.11%)

RIO

Rio Tinto

$41.69

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SLW

Silver Wheaton

$21.15

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STLD

Steel Dynamics

$35.59

0.07 (0.20%)

TECK

Teck Resources

$20.72

-0.09 (-0.43%)

NEM

Newmont Mining

$36.08

0.22 (0.61%)

MOS

Mosaic

$31.42

-0.41 (-1.29%)

AA

Alcoa

$34.48

0.16 (0.47%)

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Agrium

$99.37

-1.19 (-1.18%)

, AAL

American Airlines

$46.28

0.18 (0.39%)

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Conference/Events
BMO Capital to hold a conference »

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$99.37

-1.19 (-1.18%)

AAL

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$46.28

0.18 (0.39%)

ABX

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$19.54

-0.12 (-0.61%)

AEM

Agnico Eagle

$45.32

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ANTO

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BLT

Blount

CCO

Clear Channel Outdoor

$4.65

0.1797 (4.02%)

FCX

Freeport McMoRan

$13.25

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FNV

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GEM

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GG

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$16.57

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HBM

Hudbay Minerals

$8.00

0.25 (3.23%)

IVN

trades under IVPAF

NUE

Nucor

$60.86

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PDL

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POT

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RIO

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SLW

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TECK

Teck Resources

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NEM

Newmont Mining

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MOS

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$31.42

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AA

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$34.48

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SO

Southern Company

$50.50

0.83 (1.67%)

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DK

Delek US

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ANTM

Anthem

$163.83

-0.09 (-0.05%)

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MCO

Moody's

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ONCS

OncoSec

$1.39

-0.03 (-2.11%)

, NKTR

Nektar

$13.45

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MMM

3M

$187.41

0.22 (0.12%)

, BIOL

BIOLASE

$1.49

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RNECY

Renesas

$4.14

-0.17 (-3.94%)

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Intersil

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RNECY

Renesas

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HSIC

Henry Schein

$173.53

1.61 (0.94%)

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TWX

Time Warner

$97.28

0.6225 (0.64%)

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TRUE

TrueCar

$14.28

0.18 (1.28%)

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GE

General Electric

$30.19

0.17 (0.57%)

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CE

Celanese

$88.79

-0.88 (-0.98%)

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ELNK

EarthLink

$5.63

-0.22 (-3.76%)

, WIN

Windstream

$7.27

-0.02 (-0.27%)

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EarthLink

$5.63

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WIN

Windstream

$7.27

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PFE

Pfizer

$34.26

0.2 (0.59%)

17:43
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