Salesforce price target raised to $420 from $300 at RBC Capital

RBC Capital raised the firm’s price target on Salesforce (CRM) to $420 from $300 and keeps an Outperform rating on the shares. The company reported a solid quarter as its subscription revenue growth stabilized, and cRPO – Current Remaining Performance Obligation – growth came in solid, remaining in double-digits, the analyst tells investors in a research note. Salesforce’s operating margins were also solid and its FY25 was raised slightly, while its Agentforce updates were encouraging, RBC adds.