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Fly News Breaks for May 21, 2015
CRM
May 21, 2015 | 07:18 EDT
Wells Fargo increased its price target on Salesforce after the company reported Q1 results that the firm views as "very good." Wells believes that the company has posted well over 30% organic billings growth on a trailing six months basis, as it benefits from healthy demand, effective cross selling and solid large deal execution. The firm thinks the company's comments about its longer term outlook was extremely bullish," and it says that the company could only be bought for a significant premium above the current share price. Wells keeps an Outperform rating on the shares.
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