Salesforce Partnership With Anthropic Fuels Bullish Sentiment Ahead of Dreamforce

UBS is maintaining its Neutral rating and $240 price target on Salesforce stock ahead of the Dreamforce conference in San Francisco. The investment firm conducted early-stage diligence and held a call with Salesforce's investor relations and product management, viewing the company's expanded partnership with Anthropic positively.

The partnership between Salesforce's CRM software suite and Anthropic's models is expected to be a key focus at the conference, but UBS notes it's too early to assess how it will affect Salesforce's fiscal year 2028 revenue growth profile. Despite near-term uncertainty, analysis suggests Salesforce appears undervalued at current levels.

Recent analyst adjustments have reflected growing confidence in Salesforce's strategic initiatives and financial outlook. Argus, Cantor Fitzgerald, and TD Cowen have all raised their price targets on the company to $300 or more, citing momentum in artificial intelligence and the significance of the partnership with Anthropic.