RBC: There are doubts about RBC's acquisition of AI customer service agent Fin Logic, giving Salesforce, Inc. (CRM.US) a "neutral" rating.

RBC Capital Markets stated that the $3.6 billion acquisition of Fin by Salesforce, Inc. (CRM.US) will further push this tech giant into the customer interaction field, but there are execution risks. RBC analyst Rishi Jaluria gave Salesforce, Inc. a "neutral" rating with a target price of $120. In a report to clients, Jaluria wrote, "From a macro perspective, we find this acquisition intriguing, particularly as it allows Salesforce, Inc. to further delve into the customer interaction domain (not just CCaaS, but related areas) - note that Salesforce, Inc. recently announced its long-awaited CCaaS product, Agentforce Contact Center. Nevertheless, we have doubts about the logic of this acquisition and considering the integration of Informatica, Contentful, and other smaller-scale acquisitions simultaneously, this acquisition will undoubtedly increase integration/execution risks. Furthermore, it is worth noting that Fin (formerly known as Intercom) was founded in 2011 and received approximately $250 million in funding from Hercules Capital in March 2026 to accelerate the release of its advanced AI customer service agents, raising questions about the maturity and technological level of its products." Salesforce, Inc. stated that Fin's core product - AI Agent, can solve complex customer queries end-to-end across all channels (including online chat, email, WhatsApp, SMS, phone, and Slack). The AI agent is powered by an AI model called Apex, developed independently by Fin and specifically built for customer support. Salesforce, Inc. stated that this acquisition will enable Fin's customer agent platform to benefit companies of all sizes and enhance Salesforce, Inc.'s ability to deliver proprietary agents within the enterprise. The transaction is expected to be completed in the fourth quarter of Salesforce, Inc.'s 2027 fiscal year, and it is expected that the transaction will not change the financial expectations for Salesforce, Inc. announced on May 27th for the 2027 fiscal year.