Credit Suisse maintains its Neutral rating on Salesforce.com CRM but raises its price target to $145, up $10, on excellent metrics in the latest quarter.
Credit Suisse says, "Salesforce.com delivered strong January quarter results with revenue, EPS, billings, deferred revenue, and backlog above consensus expectations. ...Besides large deal signings, a shift to annual invoicing drove some of the outperformance in billings, deferred revenue, and cash flow in the quarter."
CRM closed at $128.07 a share on Thursday.
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