JPMorgan Gives Salesforce a Boost with Bullish Rating and $250 Price Target

JPMorgan Chase has initiated coverage of Salesforce with an Overweight rating, citing that investor anxiety over artificial intelligence disruption and slowing growth has pushed the stock to an unjustifiably low valuation.

The bank set a December 2027 price target of $250 for Salesforce, implying roughly 29% upside from current levels. Analyst Samik Chatterjee pointed out that the bearish narrative surrounding the enterprise software giant is 'overblown,' noting an expected acceleration in Salesforce's core business during the second half of fiscal 2027.

Chatterjee argued that current pricing reflects expectations of continued deceleration rather than progress toward the company's Rule of 50 framework, a target outlined for fiscal 2030. He contended that the stock's current multiple 'stands counter to low double-digit revenue growth, leading margins, and an established market-leading position in the CRM market with Enterprises.'

The analyst also addressed concerns about AI-driven competition disrupting Salesforce's core customer relationship management business, saying such concerns should be limited to a small portion of the business.