Why Salesforce Stock Bumped Higher on a Lousy Tuesday for the Market
An analyst reiterated his very sunny outlook on the CRM king's future.
Why Salesforce Stock Bumped Higher on a Lousy Tuesday for the Market
Overview
Tech stocks of all descriptions took it on the chin in Tuesday's trading session, with many of them landing in the red on generally gloomy sentiment. Happily for Salesforce (NYSE: CRM) investors, the veteran customer relationship management (CRM) company wasn't swept up in the rout. Instead, a positive analyst update helped push the shares to a gain of over 2%.
Tuesday was an ideal day to be on the receiving end of a bullish pundit note. Patrick Walravens, who covers Salesforce for Citizens, reiterated his market-outperform (i.e., buy) recommendation on the tech stock and his $315-per-share price target. That's more than double the company's most recent closing price.
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Originally published at www.fool.com.
