J.P. Morgan Lowers PT On CRM To $130

J.P. Morgan, citing a strong F2Q12 from the company, is lowering its price target on salesforce.com (NYSE: CRM) from $140 to $130, but is maintaining its Neutral rating on the stock.

Says J.P. Morgan, in the report, “CRM reported strong F2Q12 results, posting continued momentum in new business growth, and guidance implies more of the same. While CRM is not immune to macro forces, it is probably less exposed to the most troubling segments of the economy than the average software company.”

CRM closed at $114.06 yesterday.