Stocks
Canaccord Doubles Down on Salesforce Price Target to $300
Canaccord Genuity has raised its price target for Salesforce (CRM) shares to $300 from $270 while maintaining a Buy rating, citing increased confidence in the company's ability to sustain organic revenue growth.
The analyst firm, led by David Hynes Jr., made this decision after Salesforce's Dreamforce Investor Day, where management provided encouraging data on pipeline, coverage ratios, and contract activity.
The company outlined its framework for monetizing AI across premium editions, consumption, and headless use cases. This optimism is reflected in analyst sentiment, with 34 analysts revising earnings upwards for the upcoming period, according to InvestingPro data.