UPDATE: Morgan Stanley Raises PT to $165 on Salesforce.com

Morgan Stanley increases its price targe to $165 on Overweight-rated Salesforce

on Q4 surge across all metrics. Morgan Stanley says, "CRM beat expectations across every metric in Q4 as a surge in large deals drove billings +57% YoY and bookings of 50-60% YoY. CRM continues to invest, but margins should still expand in FY13, and CRM remains one of the best growth stories in tech. Our price target moves to $165, +18% from the aftermarket." CRM closed at $131.77 a share yesterday.