Salesforce up, JPM resumes with 'overweight' on expected pickup in core business
CRM•JPM resumes coverage with bullish view
- Shares of business software provider Salesforce (CRM.N) rise 2.2% to $197.60 premarket
- J.P. Morgan says it is moving the stock to an "overweight" rating from "not rated" and establishing a PT of $250, implying an upside of ~29% to its last close
- Brokerage says its favorable view is underpinned by an expected acceleration in the core business in H2 FY27 from a near-term perspective
- It adds that concerns about disruption to CRM's position with enterprises from adoption of frontier AI models and competitive dynamics should be "limited to a small portion of the business"
- 41 of 55 brokerages rate the stock "buy" or higher, 12 "hold" and two "sell" or lower; their median PT is $240.50, per data compiled by LSEG
- Up to last close, CRM down ~27% this year
