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UPDATE: Barrington Research Initiates Salesforce.com at Outperform on Fundamentals, Innovation

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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.

Latest Ratings for CRM

DateFirmActionFromTo
May 2016BarclaysMaintainsOverweight
May 2016Credit SuisseMaintainsOutperform
May 2016CitigroupMaintainsBuy

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Posted-In: Barrington ResearchAnalyst Color Initiation Intraday Update Analyst Ratings

 

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