Salesforce (CRM) Stock Gets JPMorgan Upgrade as AI Concerns Called “Overblown”
TLDR
- JPMorgan initiated Salesforce (CRM) at Overweight with a $250 price target, calling AI disruption fears “overblown”
- CRM opened at $193.20, down 2.1%, well below its 52-week high of $269.11
- Last quarter, Salesforce beat estimates with $11.13B revenue and EPS of $3.88 vs. $3.13 expected
- Institutional investors own 80.43% of CRM; short interest fell 36.7% in late July
- Analyst consensus sits at “Moderate Buy” with an average price target of $250.28
JPMorgan initiated coverage on Salesforce (CRM) with an Overweight rating on August 13, setting a December 2027 price target of $250. Analyst Samik Chatterjee said concerns hanging over the stock are “overblown” and that the current price is factoring in further growth deceleration rather than any progress toward the company’s Rule of 50 target for FY30.
CRM opened at $193.20 on Thursday, down about 2.1% on the day. The stock sits well off its 52-week high of $269.11 and above its low of $146.32. Its 50-day moving average is $170.96 and the 200-day sits at $182.38.
… Continue reading the full article at the original source below.
This content is automatically aggregated. Full credit goes to the original publisher (coincentral.com).
