JPMorgan Puts Bullish Stamp on Salesforce with Overweight Rating

JPMorgan's analysts have taken a bullish stance on Salesforce, assigning an Overweight rating to the company. Analyst Samik Chatterjee moved CRM to an Overweight rating from Not Rated and established a December 2027 price target of $250.

Chatterjee believes that concerns weighing on the stock are 'overblown' and that shares are pricing in further deceleration rather than progress toward Salesforce's Rule of 50 target. He expects an acceleration in the core business by the second half of 2027, which will help drive growth.

JPMorgan also thinks that fears about disruption from frontier AI models and competition 'should be limited to a small portion' of the business. The firm sees Salesforce's valuation as inexpensive, given its current price multiple and expected revenue growth.