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According to Piper Jaffray, salesforce.com
CRM Overweight rating is maintained.
Piper Jaffray said that it surveyed 47 CRM partners and found that on average, they finished 3.3% above plan for Q3, marking an uptick from 1.6% above plan in Q2 and a better performance than 2 of the 4 prior quarters. “Based on the strength, we are reducing our FY13 margin assumptions to reflect investments across the business, but still expect good cash flow growth. Reiterate OW, $183 target.”
salesforce.com closed yesterday at $136.60.
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