Salesforce upgraded to Outperform at Northland on GenAI initiatives

As previously reported, Northland upgraded Salesforce (CRM) to Outperform from Market Perform with a price target of $400, up from $270. GenAI initiatives have “come to fruition” with Salesforce having officially rolled out Agentforce on September 12, providing greater confidence in sustained mid-teen revenue growth, leading the firm to extend its forecast period from 8 years to 13 years, the analyst tells investors. The Agentforce platform, which enables deployment of GenAI agents into sales, service, marketing and commerce workflows, is powered by the Atlas reasoning engine and it’s underlying xLAM series of Large Action Models, notes the analyst, whose work indicates Agentforce is “now on par” with Microsoft (MSFT).