On Tuesday, Bank of America reiterated its "buy" recommendation on Salesforce shares, raising its price target from $300 to $350.

The research firm - which spoke to numerous partners and resellers of the enterprise software developer - cites a "good performance" in the group's 4th quarter, which ended at the end of January.

Beyond this, BofA believes that Salesforce is on track to achieve an operating margin close to 40%, compared with the 30.5% expected for the past year.

The analyst - who rates the stock as a "top pick" - believes that the share has all the characteristics to become a quality GARP (Growth at a Reasonable Price) stock.

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