UPDATE: Wolfe Research Starts salesforce.com (CRM) at Outperform
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Wolfe Research analyst Alex Zukin initiates coverage on salesforce.com (NYSE: CRM) with a Outperform rating and a price target of $270.00.
The analyst comments "Continued beats and raises on the top and, more importantly, bottom line over a multiquarter (ideally multi-year) time horizon are key to unlocking relative outperformance. With guidance set conservatively and risk-adjusted for the Slack acquisition, we see the potential for significant bottom-line outperformance that can reinvigorate the shareholder base. This, combined with a greater potential for a lull in M&A activity over the next 12-18 months combines for a favorable setup for share outperformance in the current environment."
Shares of salesforce.com closed at $230.56 yesterday.
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