Salesforce price target raised to $265 from $242 at Roth MKM

Roth MKM raised the firm’s price target on Salesforce to $265 from $242 and keeps a Buy rating on the shares after its Q2 earnings beat. The company has responded to activist investors push for reforms by materially cutting costs, and the flat sequential change in costs during Q2 drove a sharp earnings upside breakout, the analyst tells investors in a research note. The newfound willingness to focus on efficiency and productivity is also likely to be received as important investor sentiment catalysts, the firm added.