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Salesforce's Free Cash Flow Could Double by 2029 Amid AI Push, Analyst Says While Upgrading Stock
salesforcesalesforce(US:CRM) Benzinga·2024-09-25 02:40

Piper Sandler analyst Brent Bracelin upgraded Salesforce Inc CRM from Neutral to Overweight and raised the price target from 268 to 268 to 325.The re-rating reflects a favorable risk-reward given the potential for free cash flow per share to double to 20+byfiscal2029(calendar2028)from20+ by fiscal 2029 (calendar 2028) from 9.65 in fiscal 2024 (calendar 2023), even if top-line growth remains at subdued levels of 8%-9%.Bracelin flagged that Salesforce also has the lowest valuation multiple relative to large-cap software peers on an Enterprise V ...