The Curious Reason Salesforce Rallied on Monday
Shares of Salesforce (NYSE: CRM) climbed higher on Monday, rising as much as 4.7%. When the market closed, the stock was still up 3.4%.
There was a broad updraft that fueled gains for a wide assortment of stocks, but the software-as-a-service (SaaS) pioneer gained ground despite a somewhat lukewarm assessment by a Wall Street analyst.
Northland analyst Nehal Chokshi initiated coverage on Salesforce with a market perform (hold) rating, while simultaneously issuing a $150 price target. To give that context, it represents potential gains of just 5% compared to the stock's closing price on Friday.
Source Fool.com
