BMO keeps 'top pick' status on Salesforce, boosts price target to $210

BMO Capital analyst Keith Bachman raised his price target for Salesforce to $210 and $190 and reiterates the shares as his "top pick designation." The stock closed Friday down 46c to $182.23. Salesforce's connected cloud strategy positions the company to take advantage of one of the largest secular trends in tech, big data, Bachman tells investors in a research note titled "Still the One." The analyst sees Customer 360 as a "key differentiator" for customers looking to gain insight on the large amount of data stored in customer relationship management. He believes Salesforce's fundamentals are improving and that the stock's valuation remains attractive relative to growth and free cash flow generation.