UPDATE: Macquarie Upgrades Microsoft (MSFT) to Outperform

(updated to add price target and analyst comment)

Macquarie analyst Sarah Hindlian upgraded Microsoft (NASDAQ: MSFT) from Neutral to Outperform, price target $121.00.

The analyst comments "We are taking advantage of the market pullback and our desire to have less (though still volatile) defensive Outperform ratings with earning power to correct our rating on Microsoft, a name we have sorely missed, but believe has at least a constructive bull /bear debate we can now helpfully address inside (our view on gaming cycle, O365, Azure, SQL Server, Chinese tariffs, EMS, Win365 and more inside). Combined with our constructive field work on Microsoft into the FQ1’19 print, we are buyers."

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 $109.20 yesterday.

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