(News Bulletin 247) – Jefferies reaffirms its ‘buy’ recommendation and its price target of 250 dollars on Salesforce, in the run-up to the publication this week, by the publisher of customer relationship management (CRM) software, of its second quarter results.
“Expectations are low due to a mixed demand assessment and a relatively difficult basis for comparison,” the broker notes, adding that attention will focus on the outlook for the 2024 target of a margin of 28%.
Jefferies is also awaiting comments on restructuring and AI. “New CRO Miguel Milano could cause friction in the short term, but should be better at long-term execution,” he adds.
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