Major Bank Ratings | Monness: Upgrades Salesforce rating to "Buy", target price set at $200, valuation considered attractive
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Glonghui June 18 – Investment research firm Monness, Crespi, Hardt released a report upgrading Salesforce’s rating from “Neutral” to “Buy”, stating that market concerns over artificial intelligence replacing the company are exaggerated, and the sharp drop in share price has created a highly attractive entry opportunity. Analyst Brian White set a 12-month target price of $200 for Salesforce, citing reasons including the company’s long-suppressed valuation, attractive profit margin structure, strong cash flow generation capability, generous share buyback program, and ongoing progress in helping clients transform into intelligent agent enterprises.
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