salesforce (CRM) Unlikely to Bid for Twitter (TWTR) - Cowen

October 6, 2016 7:58 AM EDT
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Price: $72.59 -0.32%

Rating Summary:
    50 Buy, 8 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 14 | Down: 19 | New: 11
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Cowen analyst J. Derrick Wood reiterated an Outperform rating and $100 price target on (NYSE: CRM), saying they believe the company will pass on Twitter (NYSE: TWTR).

Wood commented, "While Benioff did not give a yes or no response around TWTR acq, we come away thinking a deal is not likely to happen. Though not entirely put to rest, we think as investors return focus back to fundamentals, stock is poised to regain losses since initial speculation was spread at ~$79. We remain confident that upside momentum in its core biz will return in 3Q and are buyers of the stock."

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

Shares of closed at $68.42 yesterday.

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