Why Is Salesforce Trading Lower? Uncertainty Over Generative AI Impact Has Something To Do With It
Portfolio Pulse from AJ Fabino
Shares of Salesforce Inc (NYSE:CRM) dipped after Morgan Stanley downgraded the stock from Overweight to Equal Weight, setting a $278 price target. The downgrade is due to exhaustion of near-term catalysts and uncertainties surrounding the impact of Generative AI on growth. However, the new price target, up from $251, indicates bullish metrics ahead.
July 31, 2023 | 2:27 pm
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Salesforce's stock was downgraded by Morgan Stanley due to exhaustion of near-term catalysts and uncertainties about Generative AI's impact. However, the new price target indicates potential growth.
The downgrade by Morgan Stanley is a negative signal to the market, which can lead to a decrease in the stock price. However, the new price target, which is higher than the current price, suggests potential growth, which could mitigate the negative impact.
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IMPORTANCE 80
RELEVANCE 100