Business

Salesforce Stock Rises to New High on Top Pick Designation


Salesforce.com, Inc. (NYSE:CRM) is spiking to new all-time highs today thanks to bullish analyst attention.


RBC came in and raised its opinion to "top pick" from "outperform," while boosting its price target to $215 from $200.


The brokerage firm wrote that there are a number of ways CRM shares could see "significant" upside in 2020.


On a year-over-year basis, the shares have added 23%, and many options traders seem to be betting on more upside.


For instance, the last 10 days at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) has seen almost twice as many long calls traded as long puts.


Those who bought to open these contracts are hoping CRM rises further in the coming days.






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