Guggenheim upgrades Salesforce to Buy, keeps $228 target

Key Facts

1Guggenheim upgraded Salesforce from Neutral to Buy and kept a $228 price target.

2The upgrade followed a 35% stock decline over the past six months due to fears of AI disruption.

3Analyst John DiFucci said the sell-off and AI concerns are overblown, while the Street remains broadly bullish on CRM.

In a sign that the recent selloff may have gone too far, Guggenheim upgraded Salesforce to Buy. The firm kept its $228 price target, tying the call to a 35% decline over the past six months on fears that AI could disrupt the business. Analyst John DiFucci said both the selloff and the AI concerns are overblown, while the Street remains broadly positive on CRM.

The move refocuses attention on valuation in CRM after a period of heavy pressure, as investors weigh whether AI is more likely to reshape Salesforce’s market than erode it. Per market data, the stock closed at $165.65 on July 6, 2026, with an intraday range of $162.37 to $167.72, leaving Guggenheim’s target well above recent trading levels.

Going forward, traders will be watching whether the upgrade translates into durable demand or simply fades into the backdrop of the prior decline. At the July 6, 2026 close, CRM sat at $165.65, closer to the middle of its latest daily range than to the $228 target. There is no directly relevant upcoming economic-calendar catalyst for Salesforce, so price action and fresh AI-related headlines are likely to drive the next move.