UPDATE: Barrington Research Initiates Salesforce.com at Outperform on Fundamentals, Innovation
Barrington Research initiated coverage on Salesforce.com (NYSE: CRM) with an Outperform rating and a $180 price target.
Barrington Research said, "Having covered and monitored salesforce for nearly a decade, we are continually impressed with its innovation. We view it as the gold standard in cloud-based CRM and a driving force behind the corporate move to cloud computing. It has a large target market, an upsellable customer base, and an enviable partner ecosystem. We think its stock should trade at a premium to other fast-growth B2B SaaS companies and are initiating coverage with an OUTPERFORM investment rating and $180 price target."
Salesforce.com closed at $146.65 on Friday.
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