KeyBanc analyst Jackson Ader lowered the firm’s price target on Salesforce (CRM) to $400 from $440 and keeps an Overweight rating on the shares. The firm notes that while stocks are not companies and companies are not sectors, it feels to KeyBanc “like the shares of Salesforce are the linear embodiment of the application software sector.” No matter what the current state of the company, the narrative is negative and just about impossible to disprove, the firm adds.
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