07:35 AM EST, 02/29/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our 12-month target to $330 from $300 on a P/E of 29.6x our CY 25 EPS view, within peers but well below historical. We increase our FY 25 (Jan.) EPS to $9.74 from $9.45 and keep FY 26 at $11.14. CRM posts Jan-Q EPS of $2.29 vs. $1.68, beating the $2.27 consensus. Sales rose 11%, near expectations, with subscription and support revenues +12% and professional services -9%. Despite a disappointing FY 24 revenue outlook that implies growth decelerating to 9%, we think CRM is setting the bar low given the lag effect of measured spending on the subscription side, but note bookings are improving. Importantly, EPS/FCF guide was above our view as CRM executes well on operating margins (seen expanding by 200 bps to 32.5% in FY 25) while we applaud shareholder cash return efforts (initiates $0.40 quarterly dividend; bumps buyback by $10B). Momentum in Data Cloud appears promising, in more than half of top 25 wins, for AI monetization over time. Deals over $10M grew nearly 80% while RPO rose 17% (cRPO +12%).