Salesforce price target raised to $450 from $342 at JMP Securities

JMP Securities raised the firm’s price target on Salesforce (CRM) to $450 from $342 and keeps an Outperform rating on the shares. The firm says it has collected 15 data points on Salesforce, 10 positive and five negative, and that a Service Cloud Salesforce partner said its spend would be up as it expands its partnership, but also because it is demonstrating ROI to its largest customers, to the tune of $1.5M spend on Salesforce saving $10M in call center labor costs, the analyst tells investors in a research note.