Deutsche Bank Reiterates PT and Rating on Salesforce.com

Deutsche Bank has published a research report on salesforce.com CRM previewing 2Q results and reiterating the rating. In the report, Deutsche Bank wrote, "We expect salesforce.com to report rev of $528m and EPS of $0.26 vs Street at $528.6m and $0.30. Street's EPS estimates have not been revised for the onetime $0.04 charge for California lawsuit settlement. Estimating 30% y/y billings growth vs 44% in 1Q and 31% in 2Q11. We believe SFDC could organically exceed 32% y/y billings growth as Japan improved and enterprise spending stayed robust." Deutsche Bank rated salesforce.com a Buy with a price target of $210.00. Salesforce.com closed Wednesday at $126.31.