Stifel remains buyer of Microsoft ahead of results, boosts target to $215

Stifel analyst Brad Reback raised the firm’s price target on Microsoft to $215 from $200 and keeps a Buy rating on the shares ahead of the company’s fiscal Q4 results on July 22. The stock closed Friday down $1.04 to $202.88. Microsoft’s various properties, namely Azure, Office365 and gaming, are short- and long-term beneficiaries from the pandemic, Reback tells investors in a research note. However, the analyst adds Microsoft may offer “conservative” fiscal 2021 guidance, below his 11% year-over-year forecast, given the “rapidly evolving economic situation.” Nonetheless, as the COVID dust settles in coming quarters, organizations of all sizes will likely sustain accelerated cloud migration strategies, and Microsoft should be a key beneficiary, says Reback. The analyst remains a buyer of the shares.

Related posts

Carl Icahn Increases His Stake In Take-Two Interactive To 10.68%

ValueWalk

iPad Mini Display Outperformed By Kindle Fire HD & Nexus 7

ValueWalk

Foxconn Might Open Manufacturing Plants In The U.S. [REPORT]

ValueWalk

Peter Cundill Protégé Tim McElvaine on Investing in Japan [VIDEO]

ValueWalk

Set Bing Home Page Image As Lock Screen In Windows 8

ValueWalk

Morning Market News: JCP, APO, MCHP, ZIP, ENR, LGF, EA, ATVI, COV, LNT

ValueWalk