Needham analyst Scott Berg raised the firm’s price target on Salesforce to $250 from $230 and keeps a Buy rating on the shares. The company’s announced price increase holds the potential for $229M of revenue uplift in the first 12 months, the analyst tells investors in a research note. Given the expectations of a minimal costs tied to this additional revenue, Salesforce EPS could increase 16c per share or a 2% uplift from the firm’s $8.01 estimate for this 12-month period, Needham added.
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