Salesforce’s New Bull Predicts AI Will Send Stock to Record

Salesforce rises after Morgan Stanley upgrade to overweight
Analyst’s $350 target sees shares scaling fresh heights on AI

Salesforce headquarters in San Francisco.
Photographer: David Paul Morris/Bloomberg

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By Kit Rees

December 21, 2023 at 12:18 PM UTC

Updated on

December 21, 2023 at 2:41 PM UTC

This article is for subscribers only.

Salesforce Inc. just won itself a new bull with Morgan Stanley analysts predicting that the artificial intelligence wave will help propel the software maker’s shares to record levels.

Even though Salesforce has surged 96% this year, Morgan Stanley’s Keith Weiss’s new price target of $350 sees a further 34% gain for the stock over the next 12 months, far surpassing 2021’s all-time high.