Buy (CRM) Amid Cautious Sentiment - Stifel

August 24, 2016 10:46 AM EDT
Get Alerts CRM Hot Sheet
Price: $76.03 +0.61%

Rating Summary:
    51 Buy, 7 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Stifel analyst om Tom Roderick reiterated his Buy rating and $93 price target on (NYSE: CRM) ahead of results on August 31st, after the market close. The analyst said there is no better time to buy CRM then when the sentiment light starts flashing yellow.

Roderick said while recent Street sentiment shifting toward a more cautious stance, they see a setup in the stock eerily similar to the months after acquired ExactTarget in 2013.

He said the temptation to try and time a near-term cautious trading call might seem appealing to some, but they think it's a myopic view.

"CRM has simply become a second half stock, and we see no compelling reason for investors to get spooked out of the stock in front of the Dreamforce in October," he said.

For an analyst ratings summary and ratings history on click here. For more ratings news on click here.

Shares of closed at $78.02 yesterday.

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