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Andreas in Gainers & Losers,

Investment idea - (CRM), a major US company, which is one of the pioneers of cloud technologies and developer of the CRM system, recently announced a partnership agreement with Microsoft aimed at integration of platforms with Microsoft products, including Skype, OneNote, Windows, etc. We believe that the agreement will considerably enhance the platform capabilities of both companies and improve the performance of

The company’s management recently updated its forecast for FY16. Revenue will increase 21-22% to USD 6.60-6.63 bn (previous forecast was USD 6.52-6.55 bn), adjusted EPS was revised up from USD 0.69-0.72 to USD 0.70-0.72 (+100-106% y-o-y).

We are upbeat about the future prospects of and reiterate a Buy recommendation in the mid-term.

We raised our mid-term fundamental valuation of (CRM) shares to USD 85. The short-term technical target is USD 80.