JPMorgan Turns Bullish on Salesforce, Sees 24% Upside

JPMorgan resumed coverage of Salesforce (CRM) with an 'Overweight' rating and $250 price target, implying an upside of more than 24%. Analyst Samik Chatterjee sees the company's core business accelerating in the second half of fiscal 2027.

The analyst downplayed concerns about disruption to Salesforce's position with enterprises from adoption of frontier AI models and competitive dynamics, stating that these will be limited to a small portion of the business. CRM shares are inexpensive at current levels, according to JPMorgan.

UBS raised the price target on Salesforce to $210 from $185 earlier this week, while keeping a 'Neutral' rating on the shares. The average 12-month price target for CRM is $242.43, implying an upside of more than 20% from current levels.