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Fly News Breaks for July 5, 2019
DATA, CRM
Jul 5, 2019 | 05:34 EDT
Salesforce (CRM) shares have underperformed since the announcement of its Tableau Software (DATA) acquisition as investors worry that the deal could be designed to prop up lagging growth, UBS analyst Jennifer Lowe tells investors in a research note. The analyst, however, thinks the concerns are overblown. Channel work shows "robust demand" for Salesforce's solutions, and recent merger disclosures show a "thoughtful and lengthy process" behind the deal, says Love. The analyst keeps a Buy rating on Salesforce shares with a $190 price target. The stock closed Wednesday up $1.50 to $155.59.