- The shares of Salesforce Inc (NYSE: CRM) have received a $291 price target from Morgan Stanley. These are the details.
The shares of Salesforce Inc (NYSE: CRM) have received a $291 price target from Morgan Stanley. And Morgan Stanley analyst Keith Weiss is maintaining an “Overweight” rating on the shares.
Weiss adjusted the rating while revising down total revenue estimates for FY23 by about 3% and operating margin assumption by 70 basis points to reflect incremental foreign exchange headwinds since the company provided its full-year guidance in April. And Weiss is maintaining an “Overweight” rating on the shares ahead of the company’s first-quarter report while telling investors that conversations with channel partners suggest business momentum sustained well in 2022 and that the FY23 pipeline continues to remain solid.
The shares of the company are trading at multiples not seen since 2009 and Salesforce comes into the first-quarter report facing a steep wall of worry – which frames an attractive set-up assuming the company is able to show continued durability of demand behind the strategic solution portfolio and illustrate a shareholder-friendly operating philosophy.
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