Morgan Stanley Sees salesforce.com Moving Past Q1 Worries

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In a report published Wednesday, Morgan Stanley analyst Keith Weiss reiterated an Overweight rating and $79.00 price target on
salesforce.comCRM
. In the report, Morgan Stanley noted, “A clear leader in SaaS-based apps, with 30%+ topline growth and valuation support at 5.4x EV/recurring revenue should make CRM one of the first names investors come back to as they refocus on growth. Now cleanly thru the seasonally weak Q1, CRM should start heading towards our $79 PT.” salesforce.com closed on Tuesday at $52.89.
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Posted In: Analyst ColorReiterationAnalyst RatingsKeith WeissMorgan Stanley
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