TD Cowen Reaffirms Buy Rating on Salesforce (CRM) with $240 Target
TD Cowen reaffirmed its Buy rating and $240 price target on Salesforce (NYSE:CRM) following an investor dinner with the company's IR team. The firm sees AI momentum and the Agentforce platform as key growth catalysts.
Key Numbers
On June 12, TD Cowen reiterated its Buy rating and $240 price target on Salesforce Inc. (NYSE:CRM) after hosting an investor dinner with new Senior Director of IR Lauren O'Brien and VP of IR Valmik. The discussion focused on the company's strategy and growth drivers.
Rating Change
The rating remains Buy with a $240 price target, implying approximately 12% upside from the previous close. No change was made.
Analyst Rationale
TD Cowen believes that AI momentum and the new Agentforce platform are key growth catalysts. Salesforce is integrating AI into its cloud products, boosting productivity and attracting new customers.
Context
Other analysts, including Morgan Stanley and Goldman Sachs, also have positive ratings on CRM, with price targets ranging from $230 to $260. The stock has risen about 15% year-to-date.
What to Make of It
TD Cowen's reaffirmation reflects confidence in Salesforce's AI strategy, but investors should monitor competition and transformation costs.
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