Microsoft Corporation (NASDAQ: MSFT) shares are trading higher after Wedbush maintained an Outperform rating on the stock and raised its price target from $325 to $350.
Wedbush analyst Daniel Ives believes ‘the Office 365 price increase for 2022 was a smart strategic poker move that could be another $5 billion+ incremental tailwind for Redmond in 2022, giving more confidence that numbers could continue to move up higher looking ahead.’
The analyst also noted ‘Microsoft remains our favorite large cap cloud play and we believe the stock will move higher into year-end as the Street further appreciates the cloud transformation story in Redmond.’
Microsoft Corporation develops, licenses, and supports software, services, devices, and solutions worldwide.
Microsoft’s stock was trading about 2.5% higher at $304.18 per share on Friday at the time of publication. The stock set a new 52-week high of $305.84 and has a 52-week low of $196.25.
Latest Ratings for MSFT
|
Aug 2021 |
Wedbush |
Maintains |
Outperform |
|
|
Jul 2021 |
JP Morgan |
Maintains |
Overweight |
|
|
Jul 2021 |
Credit Suisse |
Maintains |
Outperform |
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