Microsoft Upgraded To Buy From Neutral At Goldman
Goldman Sachs analyst Heather Bellini upgraded Microsoft (MSFT) to Buy from Neutral and raised her price target for the shares to $68 from $60. The software giant closed yesterday up 78c to $59.65.
Azure is the number two market share vendor in the cloud space, and has grown 100% or more year-over-year eight of the last 10 quarters, Bellini tells investors in a research note on the public cloud space. She believes Azure can continue to grow revenue and improve margins over time given Microsoft's large customer base and "strong" C-level relationships. The analyst sees upside potential to out-year earnings forecasts for the company.
Disclosure: None.