On Friday, Shares of Salesforce (CRM, Financial) were upgraded to a "buy" rating from a 'hold' rating at TD Cowen, citing belief in the company's potential. Apple's stock jumped over 1% in American trading on Friday after a research note from brokerage firm Needham & Co raised the price target for the cloud giant to $400, a modest increase from the prior $380. It's the latest in a string of bullish assessments for Salesforce as analysts start to raise their forecasts.
The rise in targets in recent days, however, pushes the stock toward $360 after UBS Group raised its target on Salesforce and maintained a "neutral" rating, and Needham & Company raised the price target to $400 and afforded a "buy" rating. BMO Capital Markets increased its target to $425 and kept the rating at 'outperform', while Loop Capital set its target at $360 and put a 'hold' rating on the stock. Wells Fargo's rating reiterated a "neutral," and the price target was raised to $330.
Salesforce's consensus rating is 'Moderate Buy,' with a consensus price target of $377.6; at least some caution in the market, but still one of optimism.
