Deutsche Bank Reiterates Buy on salesforce.com

Deutsche Bank is out with its report today on salesforce.com CRM, reiterating Buy. In its report, Deutsche Bank writes, "Day 1 of DreamForce 2011 brought with it the typical fanfare of salesforce.com and drew 45k total attendees (~25k paying), 50% more than in 2010. We believe that the change in timing of this year's event was highly strategic to get in front of their prospects' fiscal year budget discussions in September/October. We see product announcements around the Social Enterprise concept (greater Chatter collaboration, data.com), official release of database.com and social ELA as drivers of greater adoption and future revenue growth. Reiterate Buy and $210 PT." At the time of posting, shares of CRM were trading pre-market at $127.65, down 0.85% from Wednesday's close.