Salesforce.com Shares Up 2.4% After Morgan Stanley Upgrades to Overweight
19 Mayo 2021 - 11:51AM
Noticias Dow Jones
By Michael Dabaie
Salesforce.com Inc. shares rose 2.4% to $219.55, leading gainers
on the Dow Jones Industrial Average, after an upgrade from Morgan
Stanley.
Morgan Stanley upgraded the customer relationship management
company to Overweight from Equal-weight with a $270 price
target.
The firm said Salesforce is "well positioned for ramping digital
transformation demand" and also cited more constructive margin
commentary from management.
Morgan Stanley said underperformance in the stock compared to
its large-cap software peer group since Salesforce said it would
acquire Slack Technologies Inc. has made the valuation levels much
more attractive.
Morgan Stanley last November had downgraded Salesforce.
Slack shares were up 1% to $41.64.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
May 19, 2021 12:36 ET (16:36 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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