Salesforce: Jefferies remains a buyer after acquisition
(CercleFinance.com) - The Salesforce Group has announced the acquisition of Tableau Software, a US-based data processing company.
Each Tableau Software action will be exchanged for 1.103 Salesforce shares. This values the company that has been acquired at 15.7 billion dollars. Following this announcement, Jefferies confirms its buy rating on the share, along with its target price of 189 euros.
Jefferies believes that this is a very good deal for Tableau Software shareholders.
"Salesforce has made lofty acquisitions that have turned out well in hindsight, but we question whether the L-T benefits will justify the price paid in this case, given DATA's real growth has been moderating for some time," the broker says.
"But risks include lower organic growth, margin dilution, and integration," it said however.
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