Salesforce Stock Has 20% Upside, According to 1 Wall Street Analyst
The past year has been a thrill ride for investors in Salesforce (NYSE: CRM). After losing more than half its market value during the economic downturn, the customer relationship management (CRM) specialist has come roaring back, soaring 81% over the past year alone.
However, one analyst believes the company's business momentum will continue to accelerate, driving the stock to new all-time highs.
Jefferies analyst Brent Thill raised his price target on Salesforce stock to $350, up from $325, while maintaining a buy rating on the shares, according to The Fly. In a survey to assess the business landscape, the investment firm noted a "modest improvement in demand." Channel checks seem to backstop this view, suggesting that both technology and manufacturing are recovering, while noting strength in the public sector.
Source Fool.com
