JPMorgan Touts Salesforce Rebound Despite AI Concerns

Salesforce shares rose by 1.90% intraday after JPMorgan initiated coverage with an 'Overweight' rating and a price target of $250 for December 2027.

JPMorgan analyst Samik Chatterjee believes concerns about AI disrupting enterprise software are overblown, citing core business growth that is expected to pick up in the half ending January.

Chatterjee argues that the market has already priced in deceleration rather than progress toward Salesforce's Rule of 50 framework target for fiscal 2030. He expects a re-rating, with timing tied to when revenue growth actually accelerates.