salesforce.com (CRM) PT Raised to $425 at Raymond James

Raymond James analyst Brian Peterson raised the price target on salesforce.com (NYSE: CRM) to $425.00 (from $350.00) while maintaining a Strong Buy rating.

The analyst comments "We’re reiterating our Strong Buy on shares of Salesforce following another healthy beat and raise quarter, with both cRPO and revenue growth coming in ahead of consensus. F3Q provided important updates on Agentforce initiatives, and we were pleased to hear about early traction with new logos with only one week of availability in F3Q. We remain impressed by the execution on multi-cloud deals, and we suspect that ongoing investment in back-end app integration and data integrity will only drive further tailwinds in that regard. With shares trading at ~26x our updated FY26 FCF estimate after hours, we’re hard-pressed to find a company with a salient AI narrative, product leadership and ramping margins all at a group average multiple."

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