Salesforce price target raised to $395 from $335 at Roth MKM

Roth MKM analyst Richard Baldry raised the firm’s price target on Salesforce (CRM) to $395 from $335 and keeps a Buy rating on the shares after its Q3 results. The company’s revenue growth has been weak for two years, necessitating cost cuts and controls that were much at odds with its employee-coddling culture, but while its growth remains weak, its stock has rallied to new highs on record earnings, the analyst tells investors in a research note. For Salesforce to rally further, growth needs to improve, and the company may have found a catalyst in its AI-driven Agentforce offerings, which give clients a path to automate many labor-intensive operations, the firm adds.