UPDATE: Canaccord Genuity Reiterates Buy, $180 PT on Salesforce.com

Canaccord Genuity maintained its Buy rating on Salesforce.com CRM and reiterates its price target of $180 a share. Canaccord Genuity commented, "Salesforce posted another solid quarter, with revenues, FCF and billings topping consensus estimates. We believe CRM shares set up well at least into Dreamforce as the likelihood of news and commentary on those developments is strongly biased to the positive side of the equation. CRM's moderate margins allow investors to dream big when the news flow is positive and fret when news or the macro is scary. Inasmuch as we believe we are in one of those sin curve upswings, we believe it is possible for CRM to reach or broach $165 before temporarily running out of steam as investors shift back to a “glass is half empty mood.” CRM should be a core growth holding." Salesforce.com closed at $146.77 on Thursday.