Morgan Stanley comments on Salesforce (CRM.US) Investor Day: AI narrative has become stronger, but evidence for growth acceleration is still lacking; maintains "Equal-weight" rating

智通财经APP has learned that Morgan Stanley issued a research report stating that after Salesforce (CRM.US) held its Dreamforce Investor Day, it maintains an “Equal-weight” rating on the stock with a target price of $235. The bank noted that Salesforce did not update its financial guidance at the conference; its outlook for fiscal year 2027 and the long-term framework to achieve the “Rule of 50” by fiscal year 2030 remain unchanged. Management’s tone regarding the accelerated adoption of AI in enterprises became stronger, but partner research indicates that large-scale deployment of Agentforce is still in the early stages. Debates over whether Salesforce can achieve organic revenue acceleration in the second half of fiscal year 2027 and whether the “SaaSpocalypse” has given way to a “SaaSceleartion” have not subsided because of this investor day.