TD Cowen Raises Salesforce Target to $300, Maintains Buy Rating
TD Cowen analyst Derrick Wood has maintained his 'buy' rating on Salesforce (CRM.US) and adjusted its target price to $300, up from $280. This move follows an evaluation of Wood's past performance, which shows a success rate of 48.9% and a total average return of 1.5% over the past year.
TipRanks data provides the basis for this assessment, with its virtual portfolio having earned a positive return from Salesforce based on Wood's ratings. The analyst has been ranked by TipRanks as having a certain level of expertise in his field, although no specific star rating is mentioned.
The adjusted target price represents an increase of $20 per share, or about 7% above the current market value. This move may be seen as a vote of confidence in Salesforce's future prospects under Wood's guidance.