Goldman Sachs raised its price target on Microsoft (NASDAQ: MSFT) to $100.00 (from $92.00) while maintaining a Buy rating ahead of the company's 2Q earnings report. Analyst Heather Bellini expects a strong print and continues to view Microsoft as one of the best-positioned enterprise software vendors in the context of the shift to cloud given the company’s strong positioning in all three tiers with Office 365 and Azure.

Goldman Sachs expects that management will provide color into Microsoft’s go-forward tax rate, with the company potentially taking the tax charge associated with deemed repatriation in F2Q18, though analysts would expect investors to look through the one-time charge.