Fly News Breaks for October 7, 2019
Oct 7, 2019 | 14:35 EDT
JPM Securities analyst Patrick Walravens reiterates an Outperform rating and $191 price target on Salesforce (CRM) shares after conducting due diligence regarding the tone of business this quarter. While early, his checks suggest Q3 business momentum is "strong," with "a lot of buzz going into November for Dreamforce," an executive briefing center that is apparently "oversubscribed", and sales representatives reportedly encouraging customers to "get the deals done" so clients can then "come out to Dreamforce and enjoy it." The analyst expects the U.K.'s CMA to eventually approve the Tableau (DATA) transaction; and at a fundamental level, his checks with industry experts suggest the acquisition should work well as Salesforce leverages Tableau's know-how to build a wide range of value-added analytical applications.
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