Jefferies Maintains Buy On Salesforce.com

Jefferies & Co. is out with a research report on salesforce.com CRM and it has a Buy rating and a $165 price target on shares. In a note to clients, Jefferies & Co. writes, "We reiterate our Buy on CRM ahead of the company's F2Q12 report. Our work through the Q was consistently positive, making CRM a standout in our coverage. We like the set-up into the quarter given the stock pull-back, guidance and billings assumptions that we view as conservative." Shares of CRM gained $3.29 yesterday to close at $137.37.