If you are wondering whether Salesforce (NYSE: CRM) can hit new highs this year, it can, at least according to what the analysts are saying. Their activity capped gains following the FQ1 release but has set this market up to rebound strongly, if not following the FQ2 release, then by the end of the fiscal year.
The primary takeaway from the analysts' activity is that sentiment firmed around the solid Moderate Buy rating and expectation for a 30% upside. The 30% upside aligns with the highs, and the high-end range of targets is a new high. The reason the stock price will move into the high-end range is that recent price increases are underappreciated by the market, serving as a driver for acceleration and sustained strength.
