Stifel Nicolaus Reiterates Buy, $160 Target on Salesforce.com
Stifel Nicolaus maintains its Buy rating and $160 target price on Salesforce.com, Inc. (NYSE: CRM) as the company unveils marketing cloud.
Stifel says, “Salesforce unveils final piece of the CRM suite with the introduction of the Radian6 Social Marketing Cloud: While salesforce.com CEO Marc Benioff focused much of his attention during his two-hour keynote on the company's Social Enterprise vision introduced a few months back at the company's Dreamforce conference, he also introduced a few new solutions, most notably the Social Marketing Cloud. Since acquiring Radian6, salesforce has been widely rumored to be working on a marketing suite that fills out the company's CRM portfolio (the other components being the Sales and Service Cloud).”
CRM closed at $118.42 per share on Wednesday. Ilir Shkurti
