UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on salesforce.com
In a report published Friday, Jefferies & Company reiterated its Buy rating on salesforce.com (NYSE: CRM), and raised its price target from $180.00 to $200.00.
Jefferies noted, “We remain positive on CRM after hosting investor meetings with mgmt, undertaking some checks with partners and re-visiting our model. We believe the opportunity set in sales/ service/ marketing and platform, coupled with international expansion, should allow the company to sustain billings growth rates that support forward revs, EPS and CFFO ests. We shift our PT to $200 and maintain our Buy.”
salesforce.com closed on Thursday at $171.13.
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Tags: Jefferies & Company