UPDATE: Atlantic Equities Upgrades salesforce.com on Multiple Positive Factors
In a report published Monday, Atlantic Equities analyst Chris Hickey upgraded the rating on salesforce.com (NYSE: CRM) from Neutral to Overweight, and reiterated the $67.00 price target.
In the report, Atlantic Equities noted, “We upgrade Salesforce.com to Overweight from Neutral. We expect the company to double revenue over the next three years, driven by secular SAAS tailwinds, a benign competitive environment and a new focus on the enterprise opportunity. We also expect less M&A and a return to margin expansion, which should help sentiment. Valuation requires Salesforce to ultimately diversify beyond CRM but we are more optimistic here than in the past.”
salesforce.com closed on Friday at $53.96.
Latest Ratings for CRM
|Jun 2016||Cowen & Company||Initiates Coverage on||Outperform|
|Jun 2016||BMO Capital||Initiates Coverage on||Outperform|
|Jun 2016||SunTrust Robinson Humphrey||Maintains||Buy|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.