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Fly News Breaks for September 17, 2015
CRM
Sep 17, 2015 | 06:08 EDT
Jefferies analysts John DiFucci and Brad Zelnick call Salesforce's user conference Dreamforce "impressive in many ways" but keeps an Underperform rating on the stock. The company's cost to book new business is greater than the annual cost to service that business thereafter, the analysts tell investors in a research note. They believe the net present value of new business is negative for Salesforce at this time. DiFucci and Zelnick have a $51 price target for shares. The stock closed yesterday up 60c to $71.87.
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