TD Cowen Remains Bullish on Salesforce (CRM), Cites Strong Enterprise Software Positioning

Man GLG holds $353.09 million worth of Salesforce, Inc. (NYSE:CRM) stock, representing 0.67% of its 13-F portfolio as of Q2 2025. The company is one of Man GLG’s list of 10 stock picks with the highest upside potential.

On October 17, 2025, TD Cowen reiterated its “Buy” rating on Salesforce, Inc. (NYSE:CRM) with a $335 price target.

The investment firm’s bullish stance stems from Salesforce, Inc. (NYSE:CRM)’s strong enterprise software positioning amid ongoing AI disruption concerns. At the Analyst Day at Dreamforce, the company disclosed its fiscal 2030 targets, including over $60 billion in annual revenue and an organic growth CAGR of over 10%.

TD Cowen highlighted Salesforce, Inc. (NYSE:CRM)’s growing edge with the help of the integration of its deterministic business logic, Customer 360 platform, and AI-driven Agentforce ecosystem. With the company’s shares trading near 15x the estimated 2026 enterprise value-to-free cash flow, TD Cowen sees scope for valuation expansion as AI adoption deepens.

Salesforce, Inc. (NYSE:CRM) delivers cloud-based customer relationship management, AI solutions, and digital labor platforms globally.

While we acknowledge the potential of CRM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.