UPDATE: Deutsche Bank Raises Price Target on salesforce.com to $205

According to Deutsche Bank, salesforce.com CRM price target is raised to $205. Deutsche Bank said that Salesforce.com reported 29% y/y billings growth that was below the/Street estimates of 37%/33%. “In our opinion, despite the optics of billings, business momentum continued and actual bookings grew faster than revenue's 36%. As a result, we are reiterating our Buy rating and raising PT for $205.” salesforce.com closed yesterday at $126.09.