Deutsche Bank Reiterates Buy on salesforce.com (CRM)

Deutsche Bank is out with its report today on salesforce.com CRM, reiterating Buy. In a note to clients, Deutsche Bank writes, "Salesforce.com is scheduled to report 1Q12 results on May 19 after market closes. We are expecting the company to exceed our revenue of $481m and $0.27 vs Street's $482m and EPS of $0.27. We are looking for y/y billings growth of 30%, breaking a streak of 7 quarters of acceleration. We see this as fully expected given the strength of 4Q11, a softening of demand industry-wide for software/SaaS in Europe and significant demand headwinds in Japan, which accounts for ~10% of SFDC's revenue. Reiterate Buy and $200PT." Shares of CRM closed Monday at $128.96, down 4.41% from Friday's close.