salesforce.com (CRM) PT Raised to $250 at DA Davidson on Braze Deal

DA Davidson analyst Gil Luria raised the price target on salesforce.com (NYSE: CRM) to $250.00 (from $225.00) while maintaining a Neutral rating.

The analyst commented, "Salesforce announced it was acquiring customer engagement platform Braze in an all cash transaction that values shares at $47.50 and the business at $5.66B, a 58% premium to the prior closing price. We are positive on the strategic implications of the deal for Salesforce who is acquiring a competitor and strengthening a weak point in its platform with incremental capabilities that layer on top of core data features. While we acknowledge integration risks associated with the deal, we are increasing our PT to $250 from $225 (16x FY28 EPS)."

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