salesforce.com (CRM) PT Raised to $340 at TD Cowen

TD Cowen analyst Derrick Wood raised the price target on salesforce.com (NYSE: CRM) to $340.00 (from $290.00) while maintaining a Hold rating.

The analyst commented, "CRM reports 3Q on 12/3. We are encouraged by the early reception around Agentforce and the potential for a stronger new AI-driven product cycle. But we think expectations have run a bit high and there is going to be some patience needed to see meaningful impacts. Meanwhile, checks on 2H trends are generally up-ticking but we still come across pockets of caution. Maintain Hold. PT to $340."

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