Fly News Breaks for January 20, 2020
Jan 20, 2020 | 13:06 EDT
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.
News For CRM From the Last 2 Days
Feb 18, 2020 | 07:15 EST
Cowen analyst J. Derrick Wood said his survey of about 50 Salesforce partners pointed to a strong fourth quarter, adding that his contacts said their pipeline outlooks were also bullish as partners on avg expect a big up-tick in growth in calendar 2020 compared to their 2019 expectations. The analyst, who sees meaningful upside potential, reiterated an Outperform rating on Salesforce shares ahead of the company's Q4 report and raised his price target on the stock to $210 from $195.