Shawshank, VA 5/18/12 (StreetBeat) -- CLSA Asia-Pacific Markets analyst Ed Maguire this morning upped his rating on Salesforce.com (NYSE: CRM) to Buy from Outperform, with a new target of $180, up from $160. The upgrade follows the cloud-based software company’s better-than-expected earnings report for the fiscal second quarter ended April.Maguire writes that the upgrade reflects “improved confidence that growing revenue visibility, healthy business momentum and operational discipline can deliver sustained upside.”
The analyst adds that an increase in total backlog and growing contribution from long-term deals “speak volumes about customer commitment (rather than sales tactics) and this builds a baseline for upward revision as management demonstrates margin leverage.”
Salesforce shares are off to a big start Friday; the stock is up $13.95, or 10.4%, to $147.75.
Please contact www.thestreetbeat.com for interest in our latest investor relations platform the “CEO Interview Series” with its host Steve Kanaval. The package includes a one-on-one interview with a seasoned industry professional; published segment to our web site with embedded audio/video file; and a compressed file that can be easily e-mailed out to your current and/or potential investors. Please e-mail bflautt@gmail.com or call (662) 392-0740 for pricing and scheduling.
StreetBeat Disclaimer
No comments:
Post a Comment