Canaccord analyst Richard Davis says that without a good explanation from Salesforce (CRM), he's "somewhat skeptical" that an acquisition of Twitter (TWTR) would be "favorably transformative" for the company. Shares of Salesforce are likely to be range-bound until the issue "resolves itself in a few days," Davis tells investors in a research note. A $26-$27 per share purchase price for Twitter would be accretive if financed with all debt and less so if paid for with stock, the analyst estimates. He is "not yet convinced" on the business logic of the deal, however. Davis has a Buy rating on Salesforce and continues to believe the stock can double over the next five years. The stock is down $4.16 to $70.43 in afternoon trading.