TD Cowen Boosts Salesforce Target to $300 Amid Anthropic Partnership

TD Cowen raised its price target for Salesforce.com to $300 from $280 due to the company's recent partnership with Anthropic. The announcement marked a major development in the software-as-a-service landscape, and TD Cowen described it as potentially beneficial for both parties. The stock has surged 25% over the past week and is trading near its 52-week high of $269.

The analyst firm noted that the new alliance between Salesforce and Anthropic demonstrates that Anthropic intends to partner rather than directly compete in the SaaS market. This shift in strategy helped drive a narrative shift and strengthened stock rally for the SaaS group, according to TD Cowen.

Notably, 30 analysts have revised their earnings estimates upward for the upcoming period, according to InvestingPro. The company has raised its full-year guidance for the second time, with management expecting revenue acceleration in the fiscal second half of 2027.