UBS Keeps Neutral Rating on Salesforce Ahead of Dreamforce Conference

UBS has maintained its Neutral rating and $240 target for Salesforce () ahead of the company's Dreamforce conference, which starts next week in San Francisco.

The stock currently trades at $247.80, slightly above UBS's target, but down 6.3% over the past week.

UBS views positively the expanded partnership and integration between Salesforce's CRM software suite and Anthropic's models announced under Claudeforce.

Despite near-term uncertainty about how this will affect Salesforce's revenue growth in fiscal year 2028, the investment firm sees the company as undervalued at current levels.