UPDATE: Microsoft (MSFT) Has the Right Strategy, Says Oppenheimer; Analyst Assumes Coverage at 'Outperform'

(Updated - March 17, 2016 9:27 AM EDT)

Oppenheimer assumed coverage on Microsoft (NASDAQ: MSFT) with an Outperform rating and a price target of $62. Analyst Timothy Horan said he thinks Microsoft has the right strategy in place for the next generation of computing.

Horan explained, "As communications and cloud services continue to converge, we believe through MSFT’s vision of a mobile first, cloud world, the company is putting the right strategy in place to be at the forefront of the next generation of computing and to defend and grow market share. Instead of fighting the inevitable shift to the cloud, MSFT is fully embracing it, enabling enterprise adoption of a fully integrated hybrid stack (IaaS/PaaS/SaaS) and using the power of the cloud to introduce an overall better operating system (for both developers/ customers) which works across all Windows devices."

"Ultimately, we believe MSFT will be successful in driving the only true unified hybrid cloud platform," added the analyst.

Horan added, "MSFT's goal is to transform both its enterprise/ consumer offerings from where its customer base needed to use it to them choosing to use it and loving to use it. While execution is the biggest risk, a seamless, integrated cloud offering, combined with a unified development platform across devices is the right strategy for the future, in our opinion."

For an analyst ratings summary and ratings history on Microsoft click here. For more ratings news on Microsoft click here.

Shares of Microsoft closed at $54.35 yesterday.

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