Salesforce Wins US Army IDIQ Deal as Mizuho Cuts Target to $280
Mizuho Securities maintained an Outperform rating on Salesforce while cutting its price target from $340 to $280, implying roughly 48% upside. A new US Army IDIQ contract expansion opens Salesforce’s flexible agreement to additional Department of Defense users, significantly broadening its defense addressable market.
1. Mizuho Revises Price Target to $280
Mizuho Securities maintained its Outperform rating on Salesforce while reducing the price target from $340 to $280, reflecting a near 48% potential upside. The cut is part of broader price target adjustments across enterprise software driven by investor concerns over AI disruption, though Mizuho also highlighted selective buying opportunities in the sector.
2. US Army IDIQ Contract Expansion
A US Army IDIQ contract was expanded to include additional Department of Defense users, opening Salesforce’s flexible agreement to a wider set of military organizations. This move significantly boosts the company’s defense addressable market as other DoD groups have shown strong interest in its AI-powered CRM solutions.