UPDATE: Stifel Raises PT on salesforce.com Following F2Q14 Results Report

In a report published Friday, Stifel analyst Tom Roderick reiterated a Buy rating on

, and raised the price target from $53.00 to $60.00. In the report, Stifel noted, “On Thursday, August 29, after the close, salesforce.com reported F2Q14 results that were well ahead of expectations. As in prior quarters, investor focus was squarely set on calculated billings, and salesforce did not disappoint, delivering a nearly $100mn beat versus our expectations. Salesforce also benefited from an earlier than expected close to the ExactTarget acquisition, which contributed $16mn in revenue and $44mn in deferred revenue. However, even when excluding the acquired contribution, the company's results were still very strong, in our view.” salesforce.com closed on Thursday at $43.65.