salesforce.com (CRM) PT Raised to $172 at Monness, Crespi, Hardt
Monness, Crespi, Hardt analyst Brian White raised the price target on salesforce.com (NYSE: CRM) to $172.00 (from $170.00) while maintaining a Buy rating.
White commented, "Last night, Salesforce reported outstanding 3Q:FY19 results and the company provided a strong 4Q:FY19 revenue outlook, combined with solid initial sales guidance for FY:20. Given the unforgiving tech tape in recent weeks and concerns regarding the direction of the economy, we believe Salesforce’s strong results and commentary will be well received in the tech world this morning, especially across our next-generation software coverage. We are raising our estimates and slightly increasing our 12-month price target to $172 from $170."