UBS Raises salesforce.com (CRM) PT to $200

February 5, 2013 4:00 PM EST Send to a Friend
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UBS boosted its price target on Buy-rated salesforce.com (NYSE: CRM) from $180 to $200 ahead of Q4 results.

The firm comments, "We believe CRM finished FY13 (Jan.) on a solid note despite buffeting winds of Hurricane Sandy, U.S. fiscal cliff, and continued global macro uncertainty. As we wrote in our 2013 Soft ware Playbook (1/7/13), we see SaaS becoming the default choice of enterprise buyers for most applications. As a by-product, we expect ELAs to become more common and believe CRM signed a large volume of multi-product deals in FQ4. CRM remains 1 of our favourite large cap growth ideas."

The firm raised FQ4 rev to/from $835M/830M – above guide $825-830M; Raise FY14 rev to/from $3.85Bn/3.83Bn (guide 3.80-3.85), but lower op mgn expansion to/from 100bp/150bp, for EPS $1.91/2.00 (St 1.95)

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 $172.76 yesterday.


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