Microsoft (MSFT) PT Raised to $300 at Wedbush
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Wedbush analyst Daniel Ives raised the price target on Microsoft (NASDAQ: MSFT) to $300.00 (from $285.00) while maintaining an Outperform rating.
The analyst commented, "Based on our recent field checks, we strongly believe the tide is shifting in the cloud arms race as Microsoft coming off its recent 50% Azure growth number is taking market share vs. AWS (28% YoY growth this quarter) based on our analysis. We also believe that Jassy taking over the reigns of Amazon from Bezos further shows that the cloud stalwart is doubling down on its AWS focus, which is a smart strategic move given the transformational cloud opportunity on the horizon. While we have seen the momentum of this backdrop in the last few quarters, we believe deal flow looks strong heading into the rest of FY21 as we estimate that Microsoft in particular is still only ~35% through penetrating its unparalleled installed base on the cloud transition."
The firm raised its Bull Case to $350 from $325.
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