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The Ratings Game: Salesforce stock reaches record after first $3 billion sales quarter

Salesforce.com Inc. shares reached a record high Wednesday as nearly half the analysts covering the customer-relations software management company hiked price targets on the stock following a strong quarter that came out relatively clean even with several moving parts.

Salesforce CRM, +1.91% shares reached a record intraday high of $132.55 on Wednesday, and were last up 2.3% at $129.84 on heavy volume. The last record high of $131 was reached May 14. It remains to be seen whether Salesforce will carve out a fresh record close seeing its current closing high from May 11 is $130.63. More than 11 million shares exchanged hands by afternoon trading, compared with a 52-week average daily trading volume of 4.7 million shares.

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