Salesforce Rose on a JPMorgan Upgrade to $250. Here’s Where the Stock Could Go

JPMorgan initiated coverage on Salesforce (CRM) with an Overweight rating and a $250 target, arguing that fears of AI disrupting enterprise software are "overblown" and the stock is undervalued at 14 times forward earnings. Despite an initial pop, shares gave back gains, reflecting market skepticism ahead of its Q2 earnings report. The key metric to watch will be current remaining performance obligation growth and net new order value, as these will indicate whether Salesforce's AI initiatives are translating into sustained contracted revenue growth.