Wells Fargo analyst Micahel Turrin initiated coverage of Microsoft Corp. with an Overweight rating and a $400 price target, implying a 15 percent upside.
Even after becoming one of the largest companies on the planet, Microsoft still has a “bright future ahead.”
The company has continued growth opportunities in “huge categories” of IT spend, the ability further to monetize its strong positioning in multiple end markets, and a financial profile that continues to exhibit stable growth and margin expansion.
He likes the growth of Azure, Microsoft’s “productivity ubiquity,” and its “impressive” margin profile.
Microsoft shares closed lower by 0.96 percent at $339.83 on Monday.
By Anusuya Lahiri
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