salesforce.com (CRM) PT Raised to $290 at TD Cowen

TD Cowen analyst Derrick Wood raised the price target on salesforce.com (NYSE: CRM) to $290.00 (from $285.00) while maintaining a Hold rating.

The analyst commented, "CRM reported 2Q cRPO growth of 11% cc, above guide of 10%, but 3Q rev growth guide of ~7% was below Street at ~8% and FY25 rev guide was maintained. Tough macro and seat growth remain headwinds & comps get tougher in 2H. AgentForce, CRM's new AI agent platform, has emerged as its next key growth focus in AI - expect lots of press at Dreamforce in Sep. Shares +3% AH. Maintain Hold. PT to $290."

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