| 2018-08-14 07:31:56|
CRM 07:31 08/14 08/14/18
Salesforce price target raised to $178 from $153 at Morgan Stanley
Morgan Stanley analyst Keith Weiss raised his price target for Salesforce shares to $178 from $153 and maintained an Overweight rating, telling investors in a research note that unlocking data trapped in legacy systems via MuleSoft brings the company to the forefront of driving digital transformation for its customers, adding that consensus expectations likely underestimate its growth potential and its improved track record in M&A. Weiss estimates a faster pace of overall revenue growth over the next few years with secular tailwinds "firmly intact," and sees MuleSoft surpassing $1B in revenue scale by calendar year 2021.