Barrons.com27d agobearish
Salesforce Stock Gets Downgraded. Analyst Admits It Might Be ‘Exactly the Wrong Time.’Salesforce stock was downgraded late Wednesday by an analyst at KeyBanc who admitted he might be doing it “at exactly the wrong time.” Salesforce has fallen 37% this year and the iShares Expanded Tech-Software Sector ETF is down 13% amid fears about the disruption caused by artificial intelligence. More than 70% of analysts covering Salesforce stock think it’s a Buy, with an average price target of $241.08, implying a 45% jump from Wednesday’s closing price of $166.58.