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

, 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.