Stocks
TD Cowen Lifts Salesforce Target to $300 Following Anthropic Partnership
TD Cowen has raised its price target for Salesforce stock to $300 from $280 after the company announced a partnership with AI lab Anthropic.
The partnership, known as Claudeforce, was seen as a major development by TD Cowen, which described it as beneficial for both parties involved in the SaaS market. The analyst firm noted that the joint product strategy between SaaS companies and AI labs is potentially beneficial for both sides.
As a result of the announcement, 30 analysts have revised their earnings estimates upward for the upcoming period, according to InvestingPro analysis. TD Cowen maintained its existing rating on Salesforce shares alongside the price target adjustment.