Canaccord Genuity Maintains a 'Buy' on salesforce.com (CRM); Expecting 3-8% Jump
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Price: $43.25 -5.34%
Rating Summary:
30 Buy, 4 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
30 Buy, 4 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade CRM Now!
Canaccord Genuity maintains a 'Buy' on salesforce.com (NYSE: CRM) price target of $180.00.
Analyst, Richard Davis, said, "We believe CRM shares could jump 3-8% on Friday following what we expect will be a bullish print and improving investor sentiment about growth stocks due to 1) at least temporary exhaustion of risk-off selling of high valuation growth stocks, and 2) a positive halo effect from a successful Facebook IPO. Our independent checks support our positive intermediate term view on CRM's fundamentals, which leads us to a conclusion that the stock's 90-day downside/ upside is about $130 and $160 (our one year target remains $180)."
For an analyst ratings summary and ratings history on salesforce.com click here. For more ratings news on salesforce.com click here.
Shares of salesforce.com closed at $138.10 yesterday, with a 52 week range of $94.09-$164.75.
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Analyst, Richard Davis, said, "We believe CRM shares could jump 3-8% on Friday following what we expect will be a bullish print and improving investor sentiment about growth stocks due to 1) at least temporary exhaustion of risk-off selling of high valuation growth stocks, and 2) a positive halo effect from a successful Facebook IPO. Our independent checks support our positive intermediate term view on CRM's fundamentals, which leads us to a conclusion that the stock's 90-day downside/ upside is about $130 and $160 (our one year target remains $180)."
For an analyst ratings summary and ratings history on salesforce.com click here. For more ratings news on salesforce.com click here.
Shares of salesforce.com closed at $138.10 yesterday, with a 52 week range of $94.09-$164.75.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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