The California-based software-as-a-service company, Salesforce.com, Inc. (CRM), is trading lower on Wednesday after the UBS analysts downgraded the stock to "neutral".
Karl Keirstead, an analyst with UBS, decided to change the status of the stock to Neutral from Buy. The revised target price has also been dropped to $265 per share from $315. The analyst believes that there is a "more modest growth rate upside" in 2022. Keirstead also believes that the stock's valuation is "reasonable but not compelling".
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.