Seeking Alpha

Software holding up amid Jefferies target increases

|About: salesforce.com, inc. (CRM)|By: , SA News Editor

Software and services are holding up near the flat line against a late-morning dip for stocks, in large part likely to Jefferies lifting targets on a number of key names today.

The firm raised its price target on Salesforce.com (NYSE:CRM) to $210 from $195, implying 17% upside, and boosted its target on Microsoft (NASDAQ:MSFT) to $185 from $160, implying 14% upside.

It's also jacked up its target on Adobe (NASDAQ:ADBE), to $390 from $370 (15% upside).

Meanwhile, the firm upgraded its rating on Elastic (NYSE:ESTC) to Buy, setting an $85 target (24% upside).

On the other side of a largely bullish update, the firm cut Dropbox (DBX -3.7%) to Hold, and its $19 target implies 7.3% upside from today's newly lower price.

And it cut its price target on Zuora (NYSE:ZUO) to $22 from $29, cutting implied upside to 48%.

Try Seeking Alpha PREMIUM for unlimited analysis on CRM