UPDATE: Deutsche Bank Reiterates on salesforce.com Ahead of 3Q14 Report
In a report published Monday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on salesforce.com (NYSE: CRM), and raised the price target from $58.00 to $65.00.
In the report, Deutsche Bank noted, “CRM reports 3Q14 on Monday, November 18 and we expect a modest beat as we believe guidance was conservative and we see minimal FX impact since they provided 3Q guidance. F3Q marks the first full quarter of ET's contribution, and we think the focus will be on how the acquisition helps upsell/ cross-sell opportunities in a reasonably overlapped customer base. We believe the ET portfolio makes CRM's Marketing Cloud much more credible for large enterprises and expands the company's TAM as marketing automation becomes a significant area of spend. Our open positions analysis shows uptick in hiring activity.”
salesforce.com closed on Friday at $57.31.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.