Salesforce: Bank of America raises TP

(CercleFinance.com) - On Tuesday, Bank of America reiterated its "buy" recommendation on Salesforce shares, raising its target price for them from $300 to $350 (cp: $286, -1%).


The broker - which spoke to numerous partners and resellers of the enterprise software developer - cites a "good performance" in the group's Q4, to end-January.

Beyond this, BofA believes that Salesforce is on track to achieve an operating margin close to 40%, compared with the 30.5% expected for the past year.

The analyst - who rates the stock as a "top pick" - believes that the share has all the characteristics to become a quality GARP (Growth at a Reasonable Price) stock.


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