Morgan Stanley Overweight On Salesforce.com

Morgan Stanley is out with a research report on Salesforce.com CRM and it has an Overweight rating and a $200 price target on shares. In a note to clients, Morgan Stanley writes, "Checks points to solid demand for CRM's Sales and Service Clouds with growing interest in Force.com and Chatter, which combined with qtrly trans. data gives us comfort that Q2 should exceed the cons. billings growth ests. of +28-29% YoY. While it will be difficult for growth to accelerate from last quarter's fx-aided 44% YoY growth (37% cc), growth in the low-to-mid 30's should help re-ignite the stock ahead of Dreamforce later this month. We are buyers here, as FY12 cons. billings look low and long-term growth should settle in closer to 30%+, above current ests." Shares of CRM gained $3.29 yesterday to close at $137.37.