Microsoft: Jefferies upgrades stock
(CercleFinance.com) - Jefferies has upgraded its rating on the Microsoft share directly from "underperform" to "buy," while boosting its target price from 93 dollars to 160 dollars, as part of a sector report in which it is "adjusting some of our ratings to be more defensive".
"We see a large diversified business with excellent visibility that has a clear horizon of double-digit revenue growth for the foreseeable future," the broker confirms regarding the IT giant.
Jefferies also likes Microsoft for other reasons, such as its multiple growth drivers (Azure, Office, LinkedIn), its support by favourable secular dynamics and its continued return of capital to shareholders.
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