Jefferies raised its price target for CRM to $215 from $200 ahead of the opening bell -- a move that could help add to the stock's year-to-date gain of roughly 11%. Nevertheless, there is still plenty of skepticism hovering over the equity. Although short interest on CRM declined by more than 12% during the last two reporting periods, these bearish bets still represent nearly 10% of the security's available float. It would take more than 10 sessions to unwind these shorted shares, at the stock's average pace of trading. In other words, CRM could end up reaping the benefits of further short-covering activity.
What it comes down to is that these sell side analysts are shameless pumpers for stocks their clients are all in on. No one wants to tell it like it is because the golden goose is making them money.
I'm sure they'll spin this $1B convertible as a positive. Up is down and down is up. They want to suck in as much retail as they can before they pull the rug out of this whole bloated Enterprise software sector.