Salesforce price target lowered to $287 from $398 at Morgan Stanley

Morgan Stanley analyst Keith Weiss lowered the firm’s price target on Salesforce (CRM) to $287 from $398 and keeps an Overweight rating on the shares. With shares down about 30% year-to-date amid peak SaaS concerns, a largely inline Q4 report and FY27 guidance is “unlikely to reset the narrative,” the analyst tells investors in a preview. However, the firm adds that ongoing improvement in organic demand with signs of a maturing and “economically favorable” Agentforce product cycle “could foreshadow stronger growth through FY27.”