Guggenheim Boosts Salesforce to Buy With $228 Target, Shares Jump 4.8%
CRM•CRM•CRM•CRM•Guggenheim upgraded Salesforce from Neutral to Buy, boosting shares 4.8% to $164.17 and setting a $228 price target implying 39% upside. The stock has slumped 38% year to date, hit a three-year low of $146.32 and shows a 2.78 call/put volume ratio in the 98th percentile.
Guggenheim lifted its recommendation on Salesforce from Neutral to Buy, citing an overly pessimistic market discount driven by AI competitive fears and recent share weakness that it deems a buying opportunity.
Shares rose 4.8% to $164.17, extending a rebound from a 14-day losing streak and a three-year low of $146.32 recorded on June 22.
The firm set a $228 price target, implying 39% upside, while the stock remains down 38% year to date; among 50 covering analysts, 34 rate shares a Buy or Strong Buy, 13 a Hold and two a Strong Sell.
Options traders have grown unusually bullish, with the 50-day call/put volume ratio at 2.78, ranking in the 98th percentile of readings at major US exchanges.
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